Why Shares of Lowe's Are Falling Today

Shares of Lowe's Companies (NYSE: LOW) fell 5% on Wednesday after the home-improvement retailer reported mixed fourth-quarter results and provided disappointing guidance. The company is undergoing a renovation under CEO Marvin Ellison, which, as any homeowner knows, usually takes a significant amount of time to play out.

Lowe's reported adjusted fourth-quarter earnings of $0.94 per share, ahead of the $0.91 per-share estimate, but revenue at $16.03 billion came in about $100 million light. Comparable sales for the quarter were up 2.5% year over year, short of the 3.5% expectation, and gross margin fell 20 basis points to 31.1%.

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Source Fool.com