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Disappointing Q2 for Lowe’s; to boost store employee hours
It was another disappointing quarter for Lowe’s Cos., which on Wednesday reported lower-than-expected adjusted earnings and revenue and gave notice of slower growth in profit margin for the second half. The home improvement company reported that its revenue rose 6.8% to $19.5 billion for the quarter ended Aug. 4, which was short of estimates. Same-store sales rose 4.5%, exceeding Street forecasts. -
Teen apparel retailer tops Street
Victoria's Secret loss is American Eagle Outfitters’ gain as the teen apparel retailer posted better-than-expected second quarter results, fueled by strong demand for its Aerie lingerie brand. Net income fell to $21.2 million, or 12 cents per share, in the quarter ended July 29, from $41.6 million, or 23 cents per share, in the year-ago period. Excluding restructuring and related charges of $0.07 per diluted share, the company’s adjusted EPS was $0.19 for the quarter, above analysts' estimates.