Lowe’s Companies (LOW) is set to release second quarter results before the market opens on Wednesday, August 19th. Analysts expect net income of $1.24 a share on sales of $17.27 billion, ahead of the $16.6 billion the Mooresville, North Carolina-based home improvement retailer reported during the same quarter last year. ‘We think both currency fluctuations and bad weather will have some impact on Lowe’s results, but we’re expecting a strong quarter and are positive on its outlook,’ said S&P Capital IQ equity analyst Efraim Levy. Meanwhile, rival Home Depot (HD), based in Atlanta, reported better-than-expected second quarter results on Tuesday, with a 5.7 percent year-over-year increase in same store sales, a critical industry metric. Home Depot also upped its fiscal 2015 guidance and now expects sales growth between 5.2 percent and 6 percent, compared to a previously reported 4.2 percent to 4.8 percent. ‘I don’t know that Lowe’s will see same store sales increase 6 percent [like Home Depot’s], but we do expect 4-5 percent growth,’ Levy said. ‘We also think there will be growth both in the do-it-yourself division and the professional customer area.’ TheStreet’s Scott Gamm reports from New York.
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