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Business Briefing / Earnings

Lowe's sees sales rising in 2010

September 23, 2009|Times Wire Reports

Lowe's Cos. executives said they expected sales to begin rising again in fiscal 2010 as the housing market stabilizes, even as consumers have changed the way they approach home improvement projects in the recession.

Still, the 2010 earnings outlook for the Mooresville, N.C., home improvement chain disappointed investors, and shares fell 88 cents to close at $21.07.

Lowe's reiterated guidance for fiscal 2009 of $1.13 to $1.21 a share, with sales down about 3%.

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