More on Lowe's Q2

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

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