Lowe's (LOW) Sales Outlook Not Terrible, Actually

Lowe’s (LOW) had a weak Q2, of course, but it was better than expected. Same store sales improved considerably over Q1, in part due to rebate checks. The company’s forecast, moreover, does not call for an accelerating decline in same-store sales, despite the end of the boost from rebate checks:

Same Store Sales, Year-Over-Year Change

Q108: -8.4%
Q208: -5.3%
Q308E: -5%-7%

Bottom line, Lowe’s doesn’t see things getting worse–which, in the current environment, is a positive.

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