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Investors were worried heading into the Q1 earnings update from Lowe's (NYSE: LOW). Lowe's followed its larger peer in reducing its fiscal-year outlook on both the top and bottom lines. Lowe's said its business was hit by the same three challenges that featured prominently in Home Depot's mid-May announcement.
During its fiscal 2023 first quarter (ended May 5), Lowe's (NYSE: LOW) generated revenue of $22.3 billion (down 6% year over year) and adjusted diluted earnings per share of $3.67 (up 5%). While these results were a bit of a mixed bag, they exceeded Wall Street estimates. Many retailers, including Lowe's, are faced with an uncertain economic backdrop.
Taco Bell fighting to free the phrase "Taco Tuesday" from its current trademark holder. Plus, Scott Phillips, chief investment officer at Motley Fool Australia, shares the current state of play for investors Down Under, Australian stocks to watch, and predictions for this year's Rugby World Cup. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center.
RH continues its stretch of poor results, in part because of poor execution.
Lowe's reported quarterly financial results that could have major implications for dividend stock investors.
The stock market lost its upward momentum on Tuesday as the lack of progress toward a resolution of the debt ceiling debate in Washington seemed to overwhelm investors. Investors still seem largely confident that lawmakers will resolve the debt ceiling problem without a cataclysmic default, but the lack of a clear solution as the days tick down still weighed a bit on sentiment. Lowe's (NYSE: LOW) managed to post a modest gain for the day after releasing its quarterly figures, but shareholders in auto parts retailer AutoZone (NYSE: AZO) weren't as fortunate.
Customers spent less per ticket, down 0.3% for the first quarter.
Yahoo Finance Live's Akiko Fujita and Seana Smith discuss the latest from the retail sector, including Lowe's stock rising on an earnings beat, the decline in BJ's Wholesale shares, and the state of the consumer amidst the current economic slowdown.
Here with me today are Marvin Ellison, chairman and chief executive officer; Bill Boltz, our executive vice president, merchandising; Joe McFarland, our executive vice president, stores; and Brandon Sink, our executive vice president and chief financial officer. During this call, we'll be making comments that are forward-looking, including our expectations for fiscal 2023.
Lowe's (LOW) reports lower sales year over year for first-quarter fiscal 2023 due to weak comps.
Yahoo Finance reporter Dani Romero discusses Lowe's Q1 earnings which indicate that home owners are remodeling their homes less and breaks down which areas consumers are downsizing in.
One week after home improvement giant Home Depot (NYSE: HD) shocked the stock market with a sales miss and weak guidance, investors are having the opposite reaction to news that its archrival has beaten on sales (and issued weak guidance). This morning, home improvement retailer Lowe's Companies (NYSE: LOW) announced that it earned an adjusted profit of $3.67 per share on $22.3 billion in sales in the first quarter of 2023 versus analyst expectations of $3.44 and $21.6 billion. Not all of Lowe's news was good -- but not all of it was bad, either.
Huntington Private Bank Director of Wealth Strategy Dan Griffith joins Yahoo Finance Live to discuss Lowe's Q1 earnings report and the impact the company is seeing from a slowdown in consumer demand.
Yahoo Finance Live breaks down some of today's top developing headlines, including earnings from Lowe's and Zoom, and the ongoing debt limit talks between President Biden and lawmakers.
Lowe's (LOW) delivered earnings and revenue surprises of 5.46% and 3.64%, respectively, for the quarter ended April 2023. Do the numbers hold clues to what lies ahead for the stock?
Investing.com -- Stocks in focus in premarket trade on Tuesday, May 23rd. Please refresh for updates.
Investing.com -- Lowe’s (NYSE:LOW) has reported a decline in first-quarter sales and lowered its full-year financial outlook, as the home improvement chain was hit by a slowdown in discretionary spending by shoppers and softening lumber prices.
Investing.com -- U.S. lawmakers race to secure a deal to lift the debt limit with a potentially catastrophic default looming only days away. Elsewhere, investors will be watching the release of fresh data on activity in the American service and manufacturing sectors, while Lowe's prepares to unveil its latest results as the quarterly corporate earnings season begins to ebb.
Yahoo Finance Live anchors Akiko Fujita and Seana Smith break down Monday's top headlines, including Meta being fined $1.3 billion, Pfizer's weight loss study, and retailers set to report earnings on Tuesday.
Retail heavyweights Target, Walmart, and Home Depot are finally getting inventory levels under control, and it's a big win for investors.
You'll do well buying stocks of quality businesses at fair prices, but you can do better if you buy quality companies when they're undervalued. An undervalued stock regaining investor sentiment can supercharge your returns. E-commerce and cloud computing giant Amazon (NASDAQ: AMZN) has been such a successful long-term investment that it's almost surprising to see the market let the stock become as cheap as it has.
Let's see if Home Depot's (HD) recent skid after first-quarter results was a buying opportunity and what might be in store for Lowe's as its Q1 report approaches next week.
By Remy Blaire Earnings reports from big box retailers pointed to an emerging trend of consumers picking up fewer big-ticket items and easing back on discretionary purchases. Yet, luxury's target demographic isn't pinching pennies. Farfetch Limited (FTCH) reported an increase of 8% in revenue for fiscal Q1 2023. The London-based luxury fashion retailer posted a narrower-than-expected quarterly loss and reiterated its gross merchandise volume outlook for the full-year. Discretionary spending on luxury products for high-end couture brands pushed Farfetch back to growth in the latest quarter. Foot Locker Inc. (FL) couldn’t kick discounting measures and retail shrink to the curb. The sportswear retailer’s shares tumbled with a double-digit percentage loss after weaker-than-expected earnings. The New York-based company reported a sales decline and slashed its guidance for the year. Greater markdowns of its merchandise and loss in inventory due to retail theft weighed on Foot Locker’s bottom line. More U.S. retailers will report earnings ahead of the Memorial Day holiday weekend. Next week, Best Buy Co. Inc. (BBY), Costco Wholesale Corp. (COST), and Lowe’s Cos. (LOW), will report quarterly results and provide greater perspective into consumer spending patterns in the first half of 2023.
Lowe's (LOW) first-quarter fiscal 2023 results are likely to reflect the impacts of a challenging operating backdrop, including inflationary pressures and currency headwinds.
Yahoo Finance markets contributor Remy Blaire discusses the state of the markets with eyes on the debt ceiling, Tesla shares, and retail stocks, including Target, TJX, Walmart, and Lowe's.