“(Reuters) – Lowe’s Cos Inc (LOW) reported weaker-than-expected quarterly results and cut its profit outlook for the fiscal year as the world’s second-largest home improvement chain lost market share to larger rival Home Depot Inc (HD).
Lowe’s shares fell more than 8 percent in premarket trading.
The lackluster results came just days after Home Depot beat Wall Street’s quarterly profit estimates with the help of cost controls and market share gains, and raised its earnings outlook for the year.”
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