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The results were bad enough to leave Lowe's stock down 4% as of mid-session Tuesday. ... The nation's second-biggest hardware store chain provides a much-needed service, in fact. ... The Today Show.
Shares of Lowe's are up 20% year to date, compared to the S&P 500's 24% gain, according to Yahoo Finance Data. Rival Home Depot is up 17% in 2024. Rival Home Depot is up 17% in 2024.
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The first Lowe's store, Mr. L.S. Lowe's North Wilkesboro Hardware, opened in North Wilkesboro, North Carolina, in 1921 by Lucius Smith Lowe. [8] After Lowe died in 1940, the business was inherited by his daughter, Ruth Buchan, who sold the company to her brother, James Lowe, for $4,200, [ 9 ] that same year.
The sluggish home improvement backdrop brought on by high interest rates hammered Lowe's second quarter P&L.Lowe's reported on Tuesday that quarterly sales tanked 5.6% from the prior year to $23. ...
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Customers spent less per ticket, down 0.3% for the first quarter.
The caution comes as Lowe's posted a mixed quarter on Wednesday before the market open. The retailer reported adjusted earnings per share of $2.28, topping above analysts expectations for $2.21.