NEW YORK (TheStreet) -- Shares of Lowe's Companies Inc. (LOW) are down -2.47% to $50.25 after the home improvement products retailer cut its sales forecast for the year as it could not make up for the sales missed during the prolonged North American winter, Reuters reports.
Lowe's lowered its sales growth forecast to about 4.5% from about 5% for the year ending January, taking into account its sales so far this year.
The company also reduced its same-store sales growth forecast for the year by half a percentage point to about 3.5%.
Must Read: Warren Buffett's 25 Favorite Stocks
- You can view the full analysis from the report here: LOW Ratings Report
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV