Lowe’s Cos. Inc. surprised Wall Street with its management of costs and pricing in the latest quarter, lifting investors’ sentiment about the home-improvement retailer amid a slowing outlook for the sector’s sales.
Lowe’s shares were ahead 3.7% midday Wednesday at $222.34 after the company said that sales growth will ease this year but projected its profitability will improve. That came a day after its larger competitor, Home Depot Inc., gave a similar sales outlook for 2022 and saw its shares drop about 9%, the biggest one-day loss for the stock in nearly two years. Home Depot shares were down about 1% on Wednesday
