Lowes (LOW) announced poor results early Monday morning. At this stage of the recession no one is surprised that a building supplies company that is dependent on the state of the housing market did not make a lot of money.Robert A. Niblock, Lowe’s chairman and CEO. Did say "The generally poor economic outlook, including well-known housing pressures, rising food and fuel prices and a more negative employment picture eroded consumer confidence and impacted discretionary purchases for the home.’Niblock then continued. "Fiscal 2008 will be a challenging year on many fronts,[...]
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[Source: The Money Blogs]
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