Lowe’s beats earnings estimates as sales fall — and the company expects revenue to slide again this year

Lowe’s beat Wall Street’s earnings and revenue expectations for its fourth quarter. Sales fell during the period, and the home improvement retailer expects revenue to drop again during its current fiscal year. In a CNBC interview, CEO Marvin Ellison said sales have been hurt by slower housing turnover and a consumer spending shift towards services rather than goods.
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