Lowe's 3Q Earnings Report A Mixed Bag
Home improvement retailer Lowe's had a rough third quarter. As WFAE's Scott Graf reports, the Mooresville company saw earnings decline by more than 40 percent. Lowe's says earnings were down 44 percent in the third quarter, compared to the same period last year. Earnings totaled $225 millon. The report is a bit of a mixed bag for the nation's second-largest home improvement chain. Sales actually increased, but Lowe's was hit with several charges related to store closings and some discontinued projects. The company announced earlier this fall it was closing 20 stores and cutting back on plans for expansion. The Lowe's CEO says his company's performance is not at the level he expects. Home Depot, the only home improvement chain larger than Lowe's, will report earnings tomorrow.