Lowe's: The Housing Chill Deepens

Shares in the home-improvement retailer sank Monday after it cut its sales and profit outlook for 2008

The weak housing sector is putting a bigger dent in home improvement retailers' sales and profits. Lowe's Companies (LOW) followed in the footsteps of its rival Home Depot (HD) on Nov. 19 by cutting its outlook for the final quarter and its current fiscal year. The retailer also warned that industry pressures are likely to persist well into 2008. The news pushed Lowe's stock down to a new 52-week low.

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