NEW YORK (Reuters) – No. 2 U.S. home improvement chain Lowe's Cos Inc (LOW.N) reported weaker same-store sales versus larger rival Home Depot, and issued a lackluster earnings forecast after losing market share in the appliances segment.
Lowe's, which recently laid off about 1,700 middle managers across the United States, expects first-quarter earnings of 34 cents to 38 cents a share, while analysts' average estimate was 38 cents. It expects comparable-store
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