Lowe's Cos Inc
Lowe's said it expected sales in stores open more than one year to slide by 2 percent to 6 percent in the current quarter. But it noted that it was starting to see optimistic signs in some of the hardest-hit housing markets.
Net profit fell to $344 million, or 23 cents per share, in the third quarter ended on October 30 from $488 million, or 33 cents per share, a year earlier.
Analysts on average were expecting earnings of 24 cents per share, according to Thomson Reuters I/B/E/S.
Sales fell 3 percent to $11.37 billion, slightly better than expectations of $11.28 billion.
Lowe's, like bigger rival Home Depot Inc
Home Depot is due to report results on Tuesday.
(Reporting by Franklin Paul; Editing by Lisa Von Ahn)