Lowe’s (NYSE:LOW) released its fourth-quarter results on Feb. 26 before the market opened. The company’s earnings beat expectations as a result of the continuous cost-sutting measures, coupled with better customer traffic at physical stores. Revenue, however, did not live up to expectations.
Snapshot of the quarter
The home improvement retailer posted adjusted earnings of 94 cents per share versus the antipated 91 cents per share. Revenue of $16.03 billion fell short of expectations of $16.15 billion.
Comparable store sales were up 2.5% in the reported quarter, which was below the projected growth of 3.6%.
Reflecting on the company’s performace, the