Lowe’s 1Q profit falls, but tops Wall Street view
Posted on 3:00 PM, under Earnings, Perception, Stocks
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CHICAGO -
Lowe’s Cos. Inc. said shoppers buying paints, plants and replacement parts in the first quarter helped the home-improvement chain beat Wall Street forecasts and prompted it to boost its full-year outlook.
The results sent the company’s shares higher Monday as the company said business was “less bad” in all regions of the country and that economic conditions may – slowly – be improving.
“In recent weeks we have seen consumer confidence improve, housing turnover show signs of a bottom in certain markets, and home prices slow their decline,” Chairman and Chief Executive Robert Niblock said in a statement.
Read the rest of the story.....
Lowe’s Cos. Inc. said shoppers buying paints, plants and replacement parts in the first quarter helped the home-improvement chain beat Wall Street forecasts and prompted it to boost its full-year outlook.
The results sent the company’s shares higher Monday as the company said business was “less bad” in all regions of the country and that economic conditions may – slowly – be improving.
“In recent weeks we have seen consumer confidence improve, housing turnover show signs of a bottom in certain markets, and home prices slow their decline,” Chairman and Chief Executive Robert Niblock said in a statement.
Read the rest of the story.....
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