Lowe's Companies Expects FY23 Comparable Sales Expected To Be Down Approximately -5% Compared To -2% to-4% Expected Earlier
Portfolio Pulse from Benzinga Newsdesk
Lowe's Companies has revised its FY23 comparable sales forecast, now expecting a decrease of approximately -5%, compared to the previously expected range of -2% to -4%.
November 21, 2023 | 11:07 am
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Lowe's Companies has adjusted its FY23 comparable sales outlook to a larger decline than previously anticipated, which may negatively impact investor sentiment and the stock price in the short term.
The revision of the comparable sales forecast by Lowe's Companies to a greater decline suggests a weaker financial performance than initially expected. This could lead to a decrease in investor confidence and a potential drop in the stock price as the market adjusts to the new guidance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100