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August 18, 2016

Lowe's has slow 2nd quarter despite ongoing housing rally

MOORESVILLE, N.C. (AP) — The nation's two biggest home improvement stores may sell many of the same goods — hammers, paints and patio furniture — yet the benefits of a sustained U.S. housing recovery seem to be streaming mostly toward one of them.

On Wednesday, Lowe's reported disappointing sales growth at existing stores, its second-quarter profit was short of most expectations and the company cut its profit expectations for the year.


 
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