Lowe’s slashes its guidance (LOW)

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(Reuters) – Lowe’s Cos Inc trimmed its full-year profit and sales forecast on Wednesday, as the home improvement chain plans to cut down inventories and pour money into faster-moving goods to keep sales up in the face of weakening U.S. homebuilding.

The company’s shares fell 2.2 percent to $ 97.49 as the retailer missed quarterly estimate for same-store sales in the second quarter.

See the rest of the story at Business Insider

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Post Author: martin

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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