Lowe's Shares Rebound After 2Q Report Brings Relief
August 18 2021 - 10:30AM
Dow Jones News
By Colin Kellaher
Shares of Lowe's Cos. rose more than 8% on Wednesday after the
home-improvement retailer posted fiscal second-quarter results that
surpassed Wall Street's expectations.
Lowe's reported a quarterly profit of $4.25 a share on sales of
$27.6 billion, beating analyst forecasts, with comparable-store
sales growth and gross margins in line with expectations.
Analysts at Citi said the report helped allay fears of a
shortfall in same-store sales and margins following a miss by rival
Home Depot Inc.
Lowe's shares, which fell 6.2% on Tuesday following Home Depot's
earnings report, were recently up 8.6%, to $197.90.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 18, 2021 10:20 ET (14:20 GMT)
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