Lowe's Reports Weak Sales, Cuts Outlook as Consumers Scale Back
Lowe's(LOW) Investopedia·2024-08-20 21:21
Key TakeawaysLowe's posted weaker-than-expected second quarter sales as discretionary spending on large home improvement projects was lower than the same time last year.Home Depot and Lowe's have been affected by a reduction in big-ticket spending in the home improvement sector as consumers deal with higher prices for essentials.Lowe's lowered its full-year outlooks for both sales and profit, citing the decline in DIY sales and a "pressured macroeconomic environment. Lowe's (LOW) reported weaker-than-expect ...