Weak Quarter At Lowe’s
9.5% same store sales drop and 19% drop in net income at home improvement retailer Lowe’s (LOW) for the quarter ended July 31, 2009.
Stock is down 11% on the news. The report isn’t really all that different from many issued in the last month or two by companies and which the market reacted to by bidding up shares. Today, they’re selling shares off.
Disclosure: Top Gun has no position in Lowe’s (LOW) shares.