Lowe’s Signals Muted Housing Demand In Weak Forecast

Lowe’s Cos. forecast sales guidance for the full year that fell short of expectations, a sign the housing market will remain lackluster in the near term due to high borrowing costs and economic volatility.

The company said it expects comparable sales to be flat to as much as 2% higher compared with the prior year. The midpoint of that range is lower than what Wall Street analysts were expecting for the period. Lowe’s comparable sales and adjusted earnings for the fourth quarter ended Jan. 30 beat estimates.