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Lowe's reports better-than-expected Q3 earnings, projects $83B-$83.5B in full-year sales despite challenges.
Lowe's reported better-than-expected third-quarter earnings, with sales reaching $20.2 billion and earnings per share at $2.89.
Although comparable sales were down 1.1%, the company saw strong growth in professional and online sales.
Lowe's raised its full-year outlook, projecting total sales between $83 billion and $83.5 billion with a 3% to 3.5% decline in comparable sales.
Despite the positive results, the company faces challenges in discretionary DIY projects and expects sales to decline year-over-year.
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