Lowe’s Beats Thanks to a Strong Housing Market

Lowe’s Cos Inc forecast 2017 sales ahead of analysts’ estimates and reported better-than-expected quarterly comparable-store sales as the company benefited from a strong housing market in the United States. Shares of the No. 2 U.S. home improvement retailer rose about 6 percent to $78.50 in premarket trading on Wednesday. Homebuilding in the United States jumped 11.3 percent in December as a firming economy and higher wages due to a tightening labor market boosted demand for housing.

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