Lowe's offers soft sales outlook, warning of a 'cautious consumer'
Publishing timestamp: 2023-03-01 16:12:08
Summary
Lowe's reported fiscal fourth-quarter sales that fell short of Wall Street's expectations, while also issuing conservative outlook for current year as it prepares for "more cautious consumer." The company beat Wall Street's expectations for earnings per share for quarter, but shares fell more than 5% Wednesday. Home Depot also recently issued muted outlook, as the pandemic-fueled boon to the home improvement market subsides and consumers feel pinched from high inflation. Data released Wednesday showed that demand for mortgages to buy home is at 28-year low.
Sentiment: MIXED
Keywords: business news, breaking news: earnings, business, breaking news: business, home depot inc, lowe's companies inc, retail industry, earnings,
Source: https://www.cnbc.com/2023/03/01/lowes-low-q4-earnings-2022.html