Lowe's Slashes Fiscal Year Earnings Forecast
22 May 2019 - 9:21PM
Dow Jones News
By Kimberly Chin
Lowe's Cos. (LOW) lowered its earnings targets for the year as
the company works through some operational challenges, such as
managing costs, transitioning its merchandising, and dealing with
ineffective pricing tools and processes.
Lowe's cut its full-year earnings guidance to between $5.54 and
$5.74 a share, down from its previous forecast of $6.00 to $6.10 a
share.
The company now projects adjusted earnings of $5.45 to $5.65 a
share, compared with its previous guidance of $6.00 to $6.10 a
share.
Shares of the home-improvement retailer fell 9.5% in premarket
trading.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
May 22, 2019 07:06 ET (11:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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