Retailers are not reporting very strong results currently, just ask Lowe’s (LOW). The company lowered guidance materially, and said that too many uncertainties exist to call the bottom. Also, Target (TGT) lowered its September same-store sales forecast. The combination pushed the retail index down to a -3.0% decline in early trading.Homebuilder Lennar (LEN) also posted dismal results, posting a net loss vs. the consensus for a gain. The company has cut its work force by 35% and anticipates futher job losses. The homebuilder in[...]
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[Source: The Money Blogs]
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