Steady comps and promising guidance lift Lowe's
- Lowe's (NYSE:LOW) reports comparable-store sales rose 5.1% in Q3.
- The mark is just 10 bps shy of the comp growth pace at rival Home Depot for a similar period.
- Gross margin rate -9 bps to 34.49%.
- SG&A expense ratio -76 bps to 23.80%.
- Merchandise inventory +1.8% to $9.762B.
- Guidance: FY14 sales growth of 4.5% to 5.0% expected on a comp gain of 3.5% to 4.0%. EPS of of $2.68 is forecast vs. $2.63 consensus.
- LOW +3.2% premarket.
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