News Summary: Lowe's 1st quarter net income rises

News Summary: Lowe's 1st quarter net income rises but falls short of expectations

Associated Press

THE NEWS: Lowe's Cos. said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales.

THE CONTEXT: Home-improvement retailers such as Lowe's have begun to see signs of improvement as the housing market turns around. But cooler weather dampened consumers' lawn and garden projects.

WHAT'S NEXT: Lowe's still expects fiscal 2013 earnings of about $2.05 per share, with revenue up about 4 percent, implying revenue of $52.54 billion. Analysts forecast earnings of $2.09 per share on revenue of $52.39 billion.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You