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Lowe's updated FY2018 guidance
Lowe's (NYSE:LOW) reports comparable-store sales rose 1.5% in Q3.
Comps for the U.S. home improvement business up 2%.
Gross margin rate down 157 bps to 32.5%.
SG&A expense rate +180 bps to 24.51%.
Operating margin rate squeezed 373 bps to 5.5%.
Merchandise inventory -0.2% to $12.36B.
Home improvement and hardware stores -11 Y/Y to 2,133.
The company repurchased $620M of stock under its share repurchase program and paid $390M in dividends in the third quarter.
FY2018 Guidance: Total sales: ~+4%; Comparable-store sales: ~+2.5%; Operating margin rate: ~-240 bps to -255 bps; Tax rate: ~24%; Diluted EPS: $5.08 to $5.13; New stores: ~8.
Lowe's (NYSE:LOW) reports comparable-store sales rose 1.5% in Q3.
Comps for the U.S. home improvement business up 2%.
Gross margin rate down 157 bps to 32.5%.
SG&A expense rate +180 bps to 24.51%.
Operating margin rate squeezed 373 bps to 5.5%.
Merchandise inventory -0.2% to $12.36B.
Home improvement and hardware stores -11 Y/Y to 2,133.
The company repurchased $620M of stock under its share repurchase program and paid $390M in dividends in the third quarter.
FY2018 Guidance: Total sales: ~+4%; Comparable-store sales: ~+2.5%; Operating margin rate: ~-240 bps to -255 bps; Tax rate: ~24%; Diluted EPS: $5.08 to $5.13; New stores: ~8.
