Lowe’s stock dips on softer demand in the first quarter
In this article:
Yahoo Finance Live’s Akiko Fujita breaks down how Lowe’s shares are trading on Wednesday.
Video Transcript
AKIKO FUJITA: Uh, let's do a quick check of one trending ticker, shares of Lowe's, pushing lower here down more than 5% after the company missed revenue estimates in its most recent quarter. The home improvement store reported a larger than expected decline in same store sales with Lowe's blaming cooler weather for softer demand in outside DIY projects. The disappointing results come on the heels of a stronger quarter from competitor Home Depot, which lifted its outlook for the fiscal year after posting record sales in the first quarter.
