Lowe’s is sinking after cutting its 2019 outlook amid a messy retail earnings season (LOW)
|05/22/2019||Posted by BusinessMediaguide.Com under General World News||
- Lowe’s shares fell early Wednesday after the company reported first-quarter earnings.
- The North Carolina-based retailer cut its full-year adjusted earnings-per-share outlook.
- The first-quarter miss was “unexpected,” Morgan Stanley analysts said.
- Watch Lowe’s trade live.
Lowe’s shares fell early Wednesday after first-quarter earnings fell short of analysts’ expectations and the company slashed its full-year outlook.
It was the convergence of “cost pressure, significant transition in our merchandising organization, and ineffective legacy pricing tools and processes” that led to a contraction in gross margin and a hit to earnings, Marvin Ellison, the president and chief executive, said in the earnings release.
“We are taking read more >>>