May 22, 2019 / 10:09 AM / 25 days ago

Lowe's cuts full-year profit forecast on higher costs

May 22 (Reuters) - Home improvement chain Lowe's Cos Inc cut its full-year profit forecast on Wednesday, as higher costs dented margins in the first quarter.

Lowe's now expects 2019 earnings of $5.54 to $5.74 per share, down from a prior forecast of $6 to $6.10.

The company's same-store sale rose 3.5% in the first quarter ended May 3, above expectations of a 3.15% increase, according to IBES data from Refinitiv.

Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below