Lowe’s Profits Tumbles on Consumer Slowdown

Mooresville, N.C. Lowe's says its third-quarter profit fell 24% as consumers delayed home-improvement projects and big-ticket purchases, but the results still beat Wall Street's expectations.

Lowe's said Monday that profit fell to $488 million from $643 million a year ago. Revenue climbed to $11.73 billion from $11.57 billion and same-store sales sank 5.9%.