00:00It's Benzinga, and here's what's on the block.
00:02Lowe's reported second quarter earnings that beat expectations but missed on sales
00:06and cut its full-year outlook, citing lower-than-expected do-it-yourself sales and a pressured macroeconomic
00:12environment.
00:13Lowe's reported lower net income and sales in the recent quarter compared to the prior
00:16year period.
00:18Comparable sales declined nearly 5 percent as customers took on fewer discretionary home
00:22projects, and unfavorable weather hurt outdoor and seasonal item sales.
00:27Both Lowe's and rival Home Depot cited expectations of weaker sales in the second half of 2024
00:33as higher rates dampened discretionary spending on home improvement projects.
00:36For all things money, visit Benzinga.com.
