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“As home prices are increasing, consumers are staying in their homes longer and because of their improved financial position, they are investing in their homes,” Ellison said on a conference call with analysts. While Home Depot makes the bulk of its sales from contractors who bill more, Lowe’s sells a wide range of do-it-yourself projects mainly to individual home owners. The Mooresville, North Carolina-based company is now trying to serve more contractors, and on Wednesday it said results in that business have been positive.
Since Ellison took over in July, Lowe’s has hired thousands of software workers and opened fulfillment centers to boost online sales, while also trying to improve the in-store experience, “We’re simply servicing an existing customer better, and we’re becoming a second, if not a first option, for customers that literally stopped shopping us because we didn’t have adequate inventory levels,” Ellison said, Lowe’s U.S, comparable-store sales rose 2.4 percent during the fourth quarter ended Feb, stainless steel bottle opener cufflinks 1, with growth of 5.8 percent in January..
“We like the direction (Lowe’s is) headed,” said Eric Grasse, a vice president at Dillon & Associates which owns shares in both Lowe’s and Home Depot. Meanwhile, Lowe’s comparable-store sales declined in Canada, where the company now runs less than 300 outlets after closing dozens of unprofitable stores. “We anticipate weakness in the Canadian housing market, which is exerting pressure on our outlook for that business over the near term,” Ellison said, adding he was confident of Lowe’s long-term potential in Canada.
PARIS (Reuters) - Air France KLM’s board stainless steel bottle opener cufflinks will try and ensure that the stake in the airline taken by the Dutch government will not have a negative impact on the company, the airline said, “The board of directors will closely monitor the consequences of this new participation on the group, its employees, its governance structure and its market value,” Air France KLM said in a statement on Wednesday, “The board will ensure that this initiative will not negatively impact the new working dynamic of the group and its companies,” it added..
CHICAGO (Reuters) - Campbell Soup Co (CPB.N) on Wednesday reported better-than-expected adjusted earnings, helped by its acquisitions of Snyder’s-Lance and Pacific Foods. Excluding items, the company earned 77 cents a share in the second quarter ended Jan. 27, beating the average analyst estimate of 70 cents, according to Refinitiv data. Campbell’s shares jumped 5 percent in premarket trading. Net sales rose 24 percent to $2.71 billion, while organic sales were flat. In 2017, Campbell agreed to buy pretzels and Cape Cod chips maker Snyder’s-Lance Inc for $4.87 billion, and organic soup maker Pacific Foods for $700 million.
Like other packaged food companies, Campbell has been struggling to attract young, increasingly health-conscious consumers, It has tried to make its portfolio healthier, and launched a cost-cutting and divestment plan in August, Campbell reported a net quarterly loss, hurt by higher restructuring costs and a $346 million writedown of its troubled fresh food business, This is the fourth time Camden, New stainless steel bottle opener cufflinks Jersey-based Campbell has written down the value of its fresh unit since September 2016, knocking about $1.35 billion off its value in total, The unit, which was put up for sale in August after a months-long strategic review, includes Bolthouse Farms, The business has struggled in recent years, with issues ranging from farming missteps to the recall of 3.8 million bottles of protein shakes..
Campbell said on Tuesday that it expects to name buyers for Bolthouse and its international business by the end of its fiscal year in July. The company also said it had agreed to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes hummus, dips and prepared salads. Terms of the deal were not disclosed. Sources told Reuters in December that Kraft Heinz Co (KHC.O) and Mondelez International Inc (MDLZ.O) were among those bidding for Campbell’s international business, which includes Australian cookie brand Arnott’s and Danish baked snacks maker Kelsen Group.
(Reuters) - Mylan NV shares slid 10 stainless steel bottle opener cufflinks percent on Wednesday after the generic drug maker predicted poor 2019 earnings that led some Wall Street analysts to wonder if its finances would worsen further, Mylan said on Tuesday its lower-than-expected profit outlook was due to rising costs related to marketing and research and development, It added that product launches should offset revenue declines for existing products this year as prices of generic drugs remain under pressure due to increased competition..