Wednesday, November 20, 2019

Lowe's calms nerves with profit forecast raise after Home Depot sales warning

Lowe’s Cos Inc raised its annual profit forecast on Wednesday, helping ease concerns over the health of the U.S. consumer after larger rival Home Depot Inc cut its full-year sales estimates ahead of the all-important holiday season.

Fewer discounts lifted Lowe’s profit margins in the third quarter, while an increased assortment of industrial products like drills and power saws attracted more high-spending builders and handymen.. . . more