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Lowe’s shares tumble as earnings fall short despite robust sales gains

November 18, 2020


Lowe’s shares fell Wednesday after the home improvement retailer reported third-quarter earnings and a profit outlook slightly short of estimates, weighed down by higher labor costs and investments in its e-commerce business.

Its same-store sales surged more than 30%, including a doubling of online sales, as the coronavirus pandemic pushed more people to its stores and website to invest in their homes.

But investors largely shrugged off those gains, looking more toward the future and how the retailer will perform after the Covid-19 crisis abates.

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