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Lowes reports fourth quarter 2018 earnings



On Wednesday, Lowe delivered a mixed earnings report for the fourth quarter, but stocks rose in premarket trading.

.6 billion in price cap fees: $ 952 million was related to a goodwill impairment Lowe's took its business in Canada. [19659003] "We expect continued weakness in the Canadian housing market in the short term, but remain confident in our market position in Canada and the long-term potential of that business," Ellison said.

In the fourth quarter, $ 15.65 billion rose from $ 15.49 billion a year ago. It was short of analysts' expectations of $ 15.74 billion.

Lowe said that sales in stores open for at least 12 months climbed 1.7 percent below q ows, lacking expectations of growth of 2.1 percent. The same store sales for its US business improvement business increased by 2.4 percent, Lowe says.

Lowe's shares rose almost 3 percent in premarket trading on the news. From Tuesday, the market is close, the shares are up 14 percent from the previous year, bringing the retailer's market value to around $ 84.3 billion.

The results from Lowes come just one day after rival Home Depot's mixed report. Poor winter weather and a cooling property market in the US damaged the largest housing improvement trade in the country in the fourth quarter. Home Depot's outlook for 2019 was also not as strong as some analysts expect, as the housing market can still pose challenges in the coming year.

Lowe's request earnings per share of between $ 6 and $ 6.10 in fiscal 2019. Analysts were expecting $ 6.04 per share. Lowe s says it expects annual sales to increase by about 2 per cent, and that the same store sales will climb about 3 per cent this year.

Now with Ellison to the helm, Lowe's has undergone his business to be competitive with Home Depot. It completes its retail business in Mexico and has closed stores in North America to focus on the most profitable places.

On Wednesday, Ellison said the company is already seeing strong results from some of the company's "early spring" business.


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