Lowe’s Q2 earnings miss mark

MOORESVILLE, N.C. — Lowe’s trailed rival Home Depot in Q2, falling short of the 4.1% gain in same-store sales predicted by analysts with an increase of just 2% for earnings of $1.17 billion. Revenues similarly rose but failed to meet expectations, increasing to $18.26 billion, some $185 short of the Thomson Reuters consensus estimate. At the same time, CEO and Chairman Robert Niblock said the company is poised “to capitalize on a favorable macroeconomic backdrop for home improvement in the second half of the year.”