The American DIY chain Lowe’s is less positive about the performance this year. The company is struggling with cost pressure, among other things. Lowe’s reported this with the publication of the quarterly figures.
Lowe’s recorded a profit of 1 billion dollars in the first quarter of its broken financial year that ran until 3 May. That is more than the 988 million dollars a year earlier, but less than what both the company and experts expected. In February the DIY chain spoke of an encouraging start to the financial year, which created the necessary expectations.
Lowe’s cut his profit target for this year. The company also promised to take the necessary measures to reduce costs. That process is still at an early stage, says Lowe’s.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.
