November 20, 2018 / 11:10 AM / a year ago

Lowe's to divest more businesses as part of restructuring

Nov 20 (Reuters) - Lowe’s Companies Inc said on Tuesday it was shedding some of its non-core businesses including its Mexican operations as part of restructuring, while also posting a smaller-than-expected rise in quarterly same-store sales.

The company said it intended to exit its retail operations in Mexico and had identified other underperforming or non-core businesses and stores for divestiture.

Sales at stores open for more than a year rose 1.5 percent in the third quarter, below expectations of a 2.93 percent increase, according to IBES data from Refinitiv. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva)

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