Sabrina Escobar

is expected to take a hit from when it reports its third-quarter results on Tuesday morning, but the big-box chain could still make strides against Home Depot.

Lowe’s posted an earnings beat in the third quarter but the stock was tumbling after the home-improvement retailer missed on sales and noted that consumers were reining in spending. Lowe’s (ticker: LOW) reported earnings per share of $3.06, slightly better than the $3.02 expected. “The company delivered strong operating performance and improved customer service despite a greater-than-expected pullback in DIY discretionary spending, particularly in bigger ticket categories,” Lowe’s CEO Marvin R. Ellison said.

(ticker: BBY) posted adjusted earnings of $1.29 a share in the third quarter, topping forecasts for $1.19, according to FactSet.

Lowe's posted an earnings beat in the third quarter but the stock was tumbling after the home-improvement retailer missed on sales and noted that consumers were reining in spending.

Lowe’s earned more than expected in the third quarter but the stock was tumbling after the home-improvement retailer reported disappointing sales and noted that consumers were reining in spending. Lowe’s (ticker: LOW) reported earnings per share of $3.06, slightly better than the $3.02 expected. The home-improvement retailer reduced its forecasts for both earnings and sales for the fiscal year.

Earnings came in ahead of expectations, but management said demand is increasingly difficult to predict.

Tuesday's slew of earnings reports rocked the retail industry, sending some stocks tumbling double digits and others soaring by just as much.

Referenced Symbols Your browser does not support the audio tag. Listen to article Length x

Tuesday’s slew of earnings reports rocked the retail industry, sending some stocks tumbling double digits and others soaring by just as much. Many retailers whose stocks were lower Tuesday—including Lowe’s (ticker: LOW), Kohl’s (KSS), and Best Buy (BBY)—saw sales fall over the third quarter as consumers reined in their discretionary spending. Kohl’s closed 9% lower, Lowe’s was down 3%, and Best Buy was off 0.7%.

This holiday season doesn't feel like , and Black Friday is no exception. It's beginning to look a lot like prepandemic times.