On Wednesday, Lowe's reported disappointing sales growth at existing stores, its second-quarter profit was short of most expectations and the company cut its profit expectations for the year. Comparable store sales at Home Depot rose 4.7 percent overall, and 5.4 percent in the U.S., a discrepancy noted by Citi analyst Kate McShane, who speculated that Lowe's...
*Q1 adj EPS $0.87 vs est $0.85. *Net sales jump 7.8 pct to $15.23 bln vs est $14.87 bln. May 18- Home improvement chain Lowe's Cos Inc followed larger rival Home Depot Inc in reporting better-than-expected quarterly sales as strength in the U.S. housing market and favorable weather led to strong demand for building and home renovation products.
Orchard Supply Hardware Stores has filed for Chapter 11 bankruptcy protection, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.
NEW YORK-- Lowe's is seeking to hire two senior level executives that could play a role in its CEO succession plan. The No. 2 home improvement retailer is looking for a chief merchandising officer and a head of supply chain, two positions left vacant since Lowe's reorganized in May.