Lowe's (NYSE:LOW) reports comparable-store sales increased 4.4% in Q2.
Gross margin rate +20 bps to 34.55%.
SG&A expense ratio -40 bps to 21.33%.
Merchandise inventory +2.3% to $9.315B.
Guidance: FY14 sales growth of 4.5% is forecast. Comp sales are expected to rise 3.5%, a level which is below prior guidance.
LOW -4.2% premarket