Lowe's Companies, Inc.
(
LOW) recently posted lower-than-expected second quarter 2010 results. The quarterly earnings of $0.58 per share missed the Zacks Consensus Estimate by a penny.
The company also witnessed a decline in the rate of growth of sales and comps in the quarter that breached its planned outlook. As a result, the company lowered its fiscal 2010 sales guidance.
Although the economy is showing signs of revival, we believe that spending on big remodeling projects will likely remain under pressure until the housing market stabilizes, inventory levels normalize and consumer-spending rebounds.
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