Lowe s forecasts 2024 sales, profit below estimates streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Lowe s Cos forecast annual
sales below Wall Street estimates on Tuesday, in signs that
recovery in the home improvement market would take longer than
expected as consumer spending on big home.
Lowe s projects weak 2024 sales as US home improvement recovery sags saltwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltwire.com Daily Mail and Mail on Sunday newspapers.
With food prices and borrowing costs still elevated, customers are limiting home-related spend to just repair and maintenance rather than undertaking larger renovations, resulting in weak demand for discretionary categories such as flooring, kitchen and furniture. Even as demand for key items such as plumbing and hardware have held up, Placer.ai data showed foot traffic at Home Depot fell in the fourth quarter, with declines worsening toward the end of the reporting period. Home Depot forecast comparable sales to decline about 1% for 2024, while analysts expected a marginal rise of 0.06%, according to LSEG data.
Home Depot forecast annual
sales below Wall Street estimates on Tuesday, signaling that
lackluster home-improvement demand would continue to affect the
company this year as people tighten spending on.