Lowe's Cos (
LOW) reported a smaller-than-expected decline in quarterly sales on Tuesday, thanks to an increase in small-scale repairs by inflation-affected Americans who have cut back on major home improvement projects.
Although the decline is smaller than expected, the results look pretty bad. Lowe's reported a 17% decline in Q1 earnings per share, down to $3.06, with revenue decreasing by over 4% to $21.36 billion. Same-store sales dropped 4.1%, marking the sixth consecutive quarter of declines, a trend that began in Q3 2022.
Shares of the North Carolina-based company, which have risen 3% this year, g ...
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