Lowe’s, the second largest home improvement retailer in the United States, indicated yesterday that the Company is still cautious about forecasting a recovery starting in the first quarter of 2010. Lowe’s has been experiencing a fall-off in sales as the U.S. housing market buckled in the recession, putting a halt on many major renovation projects.
Yesterday, Lowe’s released forecasts for the fiscal year ending January 28, 2011 of US$1.24 – US$1.34 per share; lower than analysts’ average forecast of US$1.33.
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