Lowe’s posts profit drop, cuts store openings (Reuters)

A customer carries a basket while shopping at a Lowe's store in Burbank, California May 19, 2008. (Fred Prouser/Reuters)Reuters – Lowe’s Cos reported a sharp drop in quarterly profit on Friday as it marked down prices in the recession and it gave profit forecasts that fell short of Wall Street estimates, sending shares down 3 percent.

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