Lowe’s Sales Trail Estimates Despite Strong Housing Market
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Lowe’s Cos. reported two key sales measures that missed analysts’ estimates last quarter despite a buoyant U.S. housing market.
Revenue amounted to $16 billion in the fourth quarter, which ended Jan. 31, the company said Wednesday. That fell short of the $16.2 billion average of projections, while same-store sales -- a closely watched metric for retailers -- also trailed estimates. The home-improvement retailer also forecast full-year profit that came in below Wall Street’s predictions.