Lowe's cuts annual profit forecast on weak home improvement demand-March 2024-www.financetom.com

Lowe's cuts annual profit forecast on weak home improvement demand

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Lowe's cuts annual profit forecast on weak home improvement demand

Aug 20, 2024 3:39 AM

Aug 20 (Reuters) - Lowe's lowered its annual

profit forecast on Tuesday, as hopes of a recovery in big-ticket

home improvement projects turn dim in the face of cautious

consumer spending.

The company now expects full-year earnings per share of

about $11.70 to $11.90, compared with its prior forecast of

about $12.00 to $12.30.

(Reporting by Juveira Tabassum; Editing by Shinjini Ganguli)

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