Lowe’s Decline in Big-Ticket Sales Expected to Continue

Lowe’s sales were impacted by ongoing pressure on discretionary spending for big-ticket items, or ones costing $500 or more, that doesn’t appear to be going away anytime soon, Edward Jones analyst Brian Yarbrough says in a research note. The pullback will delay an eventual turnaround to positive sales growth, though long-term drivers are still intact, the analyst says. Lowe’s management says on a call with analysts that big-ticket categories will likely continue to face pressure among the retailer’s do-it-yourself customers. Shares are down 3.1% at $222.

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