​Lowe’s Cuts Full-Year Outlook On “Challenging Macroeconomic Backdrop” Hitting Homeowners  – Tyler Durden

Lowe’s Cuts Full-Year Outlook On “Challenging Macroeconomic Backdrop” Hitting Homeowners  Home improvement retailer Lowe’s beat second-quarter earnings expectations but fell short on sales, slashing its full-year outlook due to “lower-than-expected DIY sales” in a “pressured macroeconomic environment.” Lowe’s and other industry peers like Home Depot have warned about an uncertain outlook as housing market trends slow amid high interest rates and elevated inflation, impacting low/mid-tier consumers.  Goldman’s Kate McShane provided clients with an earnings snapshot for Lowe’s second-quarter earnings:  LOW reported 2Q24 adj. EPS of $4.10, above the GS and consensus (Refinitiv) estimates of $3.99/$3.97. Adj results excludes a pre-tax gain associated…  — Continue at ZeroHedge News : Read More