Lowe’s says pandemic-fueled home improvement demand could cool in 2022


An employee organizes buckets for sale inside a Lowe’s Cos. store in Burbank, California.

Patrick T. Fallon | Bloomberg | Getty Images

Lowe’s sales outlook disappointed investors on Wednesday and raised concerns that the pandemic-fueled boom in do-it-yourself and decorating projects is cooling.

Shares dropped by as much as 4% in premarket trading. Then, shares rose slightly later on Wednesday morning as new data from homebuilders showed a huge appetite for housing — even during a typically slow season and a period of inflation. That backdrop coupled with Lowe’s executive comments about the possibility for market share gains, help the stock bounce back.

During an analyst meeting, Chief…

Source cnbc.com

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