Lowe's beats earnings estimates as sales fall — and the company expects revenue to slide again this year
Publishing timestamp: 2024-02-27 11:56:32
Summary
Lowe's beat Wall Street's earnings and revenue expectations for the fourth quarter, but sales fell and the home improvement retailer expects revenue to drop in the current fiscal year. CEO Marvin Ellison cited slower housing turnover and consumer spending shift towards services as reasons for the sales decline. Despite challenges, Lowe's remains optimistic about the medium- to long-term outlook for the business and the home improvement industry.
Sentiment: MIXED
Keywords: breaking news: earnings, earnings, business news, business, lowe's companies inc, breaking news: business, retail industry, home depot inc,
Source: https://www.cnbc.com/2024/02/27/lowes-low-q4-2023-earnings.html