Lowe's Companies Inc (LOW.N)
Aug 30 U.S. home improvement chain Lowe's Companies Inc has begun legal proceedings against Australian retailer Woolworths Ltd for allegedly voting to end a joint venture without mutual consent, in violation of their partnership agreement.
SYDNEY Woolworths Ltd said on Monday the U.S. company with which it had a hardware retail joint venture had started legal proceedings, five days after Australia's No.1 grocery chain said it was exiting the business.
SYDNEY, Aug 29 Woolworths Ltd said on Monday the U.S. company with which it had a hardware retail joint venture had started legal proceedings, five days after Australia's No.1 grocery chain said it was exiting the business.
SYDNEY, Aug 25 Woolworths Ltd, Australia's biggest grocery chain by sales, posted its first annual loss since listing on Thursday due to billions of dollars in write-offs from exiting its hardware business.
* Sets quarterly cash dividend of $0.35 per share Source text for Eikon: Further company coverage:
BRIEF-Lowe's Cos - saw softer comps in May stemming from Q1 project pull-forward and unfavorable weather
* Home fashions, lawn & garden, millwork, outdoor power equipment, paint, rough plumbing & electrical categories underperformed in Q2
Home improvement chain Lowe's Cos Inc reported a lower-than-expected quarterly profit and cut its full-year earnings forecast, hurt by a shorter spring in the northern United States and fewer big-ticket purchases at its stores.
* Shares fall as much as 6.8 pct to $75.90 (Adds details from conference call, analyst comment; updates shares)
* Board of directors has declared a 25 percent increase in its quarterly cash dividend to 35 cents per share Source text for Eikon: Further company coverage:
Lowe's Cos Inc followed larger rival Home Depot Inc in reporting better-than-expected quarterly sales as strength in the U.S. housing market and favorable weather powered demand for building and home renovation products.
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