Tue Aug 18 11:49:54 -0400 2009

The Money Times (Toronto)

- Lowe’s Cos (NYSE: LOW) reported a sharper –than-expected 19 percent fall in second-quarter profits. The world’s second-largest home-improvement retailer, next only to Georgia based Home Depot Inc (NYSE: HD) cited poor demand for the dismal results.

Analyst Joe Feldman of Telsey Advisory Group echoed Horvers’ opinion, “There’s just no pick-up yet for spending. Foreclosure rates continued to accelerate and housing prices year over year are still down. Home Depot may give similar cautious outlooks.”

To view the full article, download the PDF here: The Money Times, August 18, 2009