Negative headline for a slight miss, and 3.8% top line growth and double digit earnings growth year over year.
And that is in Q2 where GDP growth was probably only 1% or so, and still looking a bit higher for Q3, supported by ongoing 8%+ federal budget deficits.
Not a good economy for sure, as shockingly high unemployment continues and the federal govt does nothing to further support aggregate demand, because they all believe the myth that the federal govt has run out of money and in order to spend have to borrow from the likes of China and leave the debts for our children to pay back.
August 16th (Reuters) — Home improvement chain Lowe’s Cos
missed quarterly profit and sales estimates as benefits from the homebuyer tax credit and cash for appliances programs waned.
Net income rose to $832 million, or 58 cents a share, in the second quarter ended July 30 from $759 million, or 51 cents a share, a year earlier.
Analysts on average were expecting 59 cents a share, according to Thomson Reuters I/B/E/S.
Sales rose 3.8 percent to $14.36 billion, but missed the average estimate of $14.52 billion.