The company beat fiscal second-quarter earnings expectations, but missed on sales and cut its full-year outlook blaming inflation.
(Photo by Eric Thayer/Getty Images)Lowe's beat Wall Street's quarterly earnings expectations on Tuesday, as outdoor do-it-yourself projects, the home professional business and stronger online shopping fueled sales.
The company updated its full-year guidance on Tuesday, and now expects total sales of between $83 billion to $83.5 billion, higher than its previous forecast for $82.7 billion to $83.2 billion.
Lowe's is lapping a year-ago period when the company lowered its outlook and sales tumbled nearly 13% year over year.
Home Depot beat Wall Street's sales and earning expectations, yet posted its eighth quarter in a row of declining comparable sales.
Persons:
Eric Thayer
Organizations:
LSEG, Home, Federal Reserve, Wall
Locations:
ANGELES , CALIFORNIA, Los Angeles , California, Lowe's