The Traderszone Network

Published in TZ Latest News 20 August, 2014 by The TZ Newswire Staff

Home improvement chain Lowe’s Cos cuts sales forecast

The company reported better-than-expected second-quarter revenue as it recovered most of the outdoor product sales it had missed in the first quarter when a severe North American winter hurt results of Lowe’s and larger rival Home Depot Inc (HD.N). Lowe’s said it cut its sales growth forecast to about 4.5 percent from about 5 percent to take into account its year-to-date sales. “We believe home improvement spending will continue to progress in tandem with strengthening job and income growth,” Chief Executive Robert Niblock said in a statement.

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