Lowe's Sheds Light on Margin Drivers; Shares Rise

Home improvement chain Lowe's Cos shed light on its efforts to increase margins and market share amid sluggish sales growth, sending its shares higher.

The company, which reported lower-than-expected quarterly sales and forecast a full-year profit below Wall Street estimates, said it had gained share from market leader Home Depot in some categories in the latest quarter.

Lowe's plans to focus on tailoring inventory to specific markets and making other changes to boost pricing.

The news pushed shares of the company up as much as 3.6 percent, reversing a decline before the market opened.

Read Full Article from ABC News

- Posted: 2010-11-15 09:21:37

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