Lowe's Profits Increase 9% -- But Home Improvement Chain Tempers Outlook

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CHARLOTTE, N.C. - Lowe's Cos., the nation's second-largest home improvement chain, cited customer service and efficient operations Monday as reasons for a better-than-expected 9 percent rise in its second-quarter profit.

Still, decreasing sales at stores open at least a year, worsening trends in the housing market and uncertainty over credit quality led the Mooresville, N.C.-based retailer to trim its earnings outlook for the full year.

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Lowe's Profits Increase 9% -- But Home Improvement Chain Tempers Outlook

"We do face some near term challenges, but we do see some opportunity in today's sales environment," said Larry Stone, Lowe's president and chief operating officer on a call ...

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