Lowe's second-quarter misses Street estimates
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Lowe's second-quarter misses Street estimates

www.reuters.com   | 20.08.2012.

(Reuters) - Lowe's Cos Inc , the world's No. 2 home improvement chain, reported lower-than-expected second-quarter results.
Lowe's second-quarter misses Street estimates

Quarterly earnings came in at $747.0 million, or 64 cents per share, compared with $830.0 million, or 64 cents per share, a year earlier.

Sales fell 2 percent to $14.25 billion.

Analysts on average had expected a profit of 70 cents per share on revenue of $14.46 billion, according to Thomson Reuters I/B/E/S.

Shares of Lowe's closed at $27.87 on Friday on the New York Stock Exchange.

(Reporting by Ranjita Ganesan; Editing by Sriraj Kalluvila)


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