Lowes stock market
Lowe's first-quarter earnings and sales fell short of Wall Street estimates, sending shares of the home improvement retailer tumbling in premarket trade. In the wake of a strong first quarter for rival Home Depot , which recently reported better-than-expected same-store sales fueled by strong sales of big-ticket items, expectations for Lowe's were high. But the results Lowe's turned in weren't as robust as hoped, given the momentum in the housing sector.
Here's what Lowe's reported vs. Shares of the stock were falling around 4 percent following the news. At one point, they tumbled 7 percent.
Total sales for the first quarter rose Lowe's has updated its earnings outlook for to reflect this loss and the resulting lower interest expense. Lowe's reaffirmed Wednesday that it expects revenue to increase roughly 5 percent by the end of the year, with sales at its established stores rising 3. With rising home prices leading Americans to invest more in their properties, the home improvement sector has been a rare outperformer in retail of late.
Lowe's Companies, Inc. (LOW) Stock Soars on Q4 Earnings Beat | InvestorPlace
While Lowe's same-store sales didn't increase as much as analysts were expecting for the quarter, growth of 1. But it's natural for investors to compare Lowe's growth to that of Home Depot.
In the first quarter, Home Depot's same-store sales gained 5. The sales environment was challenging for Home Depot and Lowe's to start the year, Oppenheimer analyst Brian Nagel told CNBC on Wednesday.
But when comparing the two, "[Lowe's is] in a bit of a hole here," Nagel said. We saw another indication of that today. Home Depot is better at "a lot of little things," Nagel said, including adjusting merchandise and figuring out how to keep sales flowing in an "erratic" weather environment. To be fair, Lowe's is not completely deficient in these areas, but it does play second-fiddle to its bigger rival.
As of Tuesday's close, Lowe's stock has climbed about 16 percent this year and is up 3. Asia Europe Stocks Commodities Currencies Bonds Funds ETFs Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Fund Screener Tech Mobile Social Media Enterprise Gaming Cybersecurity Tech Guide Make It Entrepreneurs Leadership Careers Money Specials Shows Video Top Video Latest Video U.
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Lowe's stock falls on earnings, sales miss Earnings per share: A Lowe's employee walks through the store during the grand opening of the Lowe's store in San Francisco, California. LOW month performance Source: Lauren Thomas News Associate for CNBC.
Lowe's Companies Inc - NYSE:LOW - Stock Quote & News - TheStreet
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