Lowe’s (LOW) earnings Q3 2023


An exterior view of a Lowe’s home improvement store. Lowe’s Companies, Inc. reports quarterly earnings on Tuesday, May 23, 2023. 

Paul Weaver | Lightrocket | Getty Images

Lowe’s on Tuesday lowered its full-year sales outlook, after customers spent less on do-it-yourself projects and caused its fiscal third-quarter sales to tumble nearly 13% year over year.

Shares of the company fell about 3% in afternoon trading.

The home improvement retailer said it now anticipates sales will total about $86 billion for the fiscal year. It had previously expected a range of $87 billion to $89 billion. It projects comparable sales will drop by about 5% this fiscal year, worse than a previously anticipated a…

Source cnbc.com

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