Lowe’s Closes Seven Stores
Lowe’s Cos. reported Monday that profit for the quarter ended July 29 was $830 million, down from $832 million in the year-ago period. The home improvement retailer closed seven underperforming stores on Sunday and trimmed its earnings forecast for the year.
“Despite some recovery in our seasonal business, our performance for the quarter fell short of our expectations,” said Robert A. Niblock, CEO.
(As reported in Chain Store Age)