(Reuters) – Lowe’s Cos Inc minimize its full-year revenue forecast after reporting disappointing first-quarter earnings, as the house enchancment chain failed to boost costs in time to make up for larger prices, sending its shares down 9%.
FILE PHOTO: A Lowe’s house enchancment retailer is seen in Alexandria, Virginia August 17, 2009. REUTERS/Jim Younger/File Photograph
Since taking the helm in July, Chief Government Officer Marvin Ellison has changed almost the whole merchandising workforce to get extra in-demand merchandise on cabinets as the corporate tries to shut the hole with bigger rival Residence Depot Inc.
Whereas the brand new workforce helped Lowe’s report higher…