Lowe’s Cos. surprised Wall Street with its management of costs and pricing in the latest quarter amid a slowing outlook for the home-improvement sector’s sales.
Lowe’s shares finished 0.2% higher on Wednesday at $215.09 after the company said sales growth will ease this year but projected that its profitability will improve, compared with a 1.8% loss for the S&P 500 index. 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 closed down another 2.4% Wednesday.
