Lowe’s Higher Forecast Falls Short Of Estimates

wochit business
November 20, 2013 AT 4:10 AM
Lowe's quarterly profit slightly missed Wall Street estimates, and the No. 2 home improvement chain did not raise its fiscal-year outlook as much as analysts had hoped, sending its shares lower. Wednesday's news came the day after larger rival Home Depot posted strong quarterly results and raised its forecast for the year for the third time in three quarters. For the fiscal year ending on January 31, Lowe's expects earnings of about $2.15 a share, up from its prior forecast of $2.10.