Lowe’s misses as longer winter takes a toll (LOW)

lowes workerJoe Raedle/Shutterstock

  • Lowe’s missed on the top and bottom lines as a longer winter cut into the spring selling season.
  • The retailer named Marvin Ellison as its new CEO on Tuesday.

(AP) — Lowe’s, which named a new CEO this week, is reporting weak profit and revenue numbers for its first quarter in which harsh winter weather cut into the traditional spring sales season.

The Mooresville, North Carolina, company earned $ 988 million, or $ 1.19 per share, for the three months ended May 4. A year earlier the home improvement retailer earned $ 602 million, or 70 cents per share.

See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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