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- Lowe’s reported mixed top and bottom line results.
- The home-improvement chain cut its full-year profit and sales forecasts.
- Shares fell about 2%
- Watch Lowe’s trade in real time here.
(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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