Home Depot Hammered Rival Lowe's - Again

Home Depot Hammered Rival Lowe's - Again
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Home Depot (HD) - Get Report hammered rival Lowe's (LOW) - Get Report , again.

On Wednesday, Lowe's badly whiffed on earnings, reporting first quarter results of $1.03 a share compared to Wall Street forecasts for $1.06 a share. Total sales of $16.9 billion came in line with analyst estimates. But, same-store sales, a key retail metric that measures sales from stores open longer than a year, rose 1.9% vs. estimates for a 2.6% increase. The company reiterated its full year sales and earnings outlooks, excluding one-time items.

Shares dived as much as 5.9% in early trading.

READ MORE: Lowe's Is Getting Absolutely Smoked by Home Depot in One of the Biggest Housing Recoveries Ever

This article was written by a staff member of TheStreet.