Lowe’s was yet another retailer burdened by the storm clouds that hung over the sector this quarter. The home improvement chain recorded earnings of $0.58 cents a share over the quarter, $0.02 cents short of analysts’ estimates. Meanwhile, revenue came in at $13.4 billion, 2 percent higher than a year earlier but was still lower than forecasts. Comparable-store sales were up only 0.9 percent, fairly weak against rival Home Depot which scored a 2.6 percent comparable sales gain over the period. Lowe’s sees improvement over the remainder of the year though, noting that sales in May have picked up. Management increased full-year earnings guidance to $2.63 a share from a previous $2.60.
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