Here's Why Shares of Lowe's Are Lower on Wednesday

Lowe's (LOW) - Get Report shares were down Wednesday after the home improvement retailer cut its full year guidance amid lower-than-expected traffic in August and Septmember. The company now expects to earn about $3.52 a share for the year, below the $4.06 per share it had previously expected to earn. The company also now expects comparable store sales to rise between 3% and 4%...that's the low end of previous expectations. For the October quarter, Lowe's reported earnings of $0.43 a share...that's less than half of what had been expected. Revenue of $15.74 billion was also lighter than expected.