Lowe's warns of dull 2023 sales as home improvement market likely to shrink


Lowe’s Cos Inc (LOW) forecast annual sales below market expectations on Wednesday and warned of a slight decline in the home improvement market this year due to rising prices and borrowing costs.

“The new management team is trying to reset the bar and tell the investment community they need to invest in the business to enhance infrastructure and make it a better, more profitable business over time,” Telsey Advisory Group analyst Joseph Feldman said.

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