(Boursier.com) — Lowe’sthe American retailer’s rival Home Depot, announced profits above expectations for the quarter ended at the beginning of November, but the group is also warning about its prospects. The retailer of home-related products posted adjusted earnings per share of $3.27 for the closed period, its third fiscal quarter, compared to a consensus of $3.03. Like-for-like sales declined 7.4% for this quarter. Net profit was $1.8 billion. Total quarterly sales were $20.5 billion, compared to $23.5 billion for the comparable period last year. For the financial year, sales are now expected at around 86 billion, compared to 87 to 89 billion dollars previously. Comparable performance would be negative 5%, compared to a previously anticipated decline of 2 to 4%. The annual adjusted operating margin is expected at 13.3%, compared to previous guidance ranging from 13.4 to 13.6%. Adjusted EPS is expected at $13, compared to $13.2 to $13.6 previously.
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