Lowe’s Companies Inc (NYSE: LOW) beat analysts’ expectations in the second-quarter due to improved operations.
The home improvement retailer posted net income of $2.99 billion for the quarter ended July 29.
The retailer said sales of do-it-yourself products was hit due to lower demand of discretionary items. Net sales fell to $27.48 billion, from $27.57 billion a year ago.
For the full year, Lowe’s said it now expects total and comparable sales for the year toward the bottom of its outlook range.
The company had forecast sales of $97 billion to $99 billion and comparable sales to be down 1% to up 1%.
Picture Credits: Getty Images
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