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Drought Wilts Lowe's
Updated from 4:59 p.m. EDT
SAN FRANCISCO -- Home retailer Lowe's(LOW Quote) expects fiscal-year earnings at the low end, or slightly below, its previous guidance due to regional drought conditions hurting the company's outdoor offerings.
Shares of Lowe's slumped more than 5% in recent after-hours trading to $29; rival Home Depot(HD Quote) fell 2.4% to $33.07.
The company said Monday that current sales are trending below expectations due to the dry conditions in the Mid-Atlantic, Southeast and West. ...
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