Home improvement retailer Lowe's (NYSE: LOW) was forced to cut its full-year earnings and revenue forecasts this week after posting a 10 percent fall in second-quarter income.
On Monday, Benzinga reported that Lowe's net earnings were $747 million for the quarter that ended August 3, 2012, a 10.0 percent decrease over the same period a year ago. Diluted earnings per share of $0.64 were flat versus the second quarter of 2011. For the six months ended August 3, 2012, net earnings decreased 1.3 percent from the same period a year ago to $1.27 billion, while diluted earnings per share increased 9.2 percent to $1.07.
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