Business briefs: Lowe’s profits drop

Profit at Lowe’s Cos. (LOW) fell 12.1 percent in the first quarter, disappointing analysts’ expectations and depressing shares of the country’s second-largest home improvement retailer. The Mooresville, N.C.-based company said mixed weather and a continued housing slump hurt sales. Rival Home Depot Inc. (HD) said last week its first-quarter income dropped 29.5 percent.

Jeffrey Kindler

The new chief executive of the world’s largest drug maker, Pfizer Inc. (PFE), cleaned house by announcing that Research and Development President John LaMattina and Chief Financial Officer Alan Levin will soon leave. The company is cutting 10,000 jobs, or 10 percent of its work force, as it tries to boost profits with tepid sales anticipated soon.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

SF speeds up testing for first responders as Sheriff’s Department is hit by coronavirus

Miyamoto rolls out daily temperature checks at jails, hospitals and courthouses

‘Outbreak’ expected at Laguna Honda Hospital after seven test positive for virus

The day after the first patient at Laguna Honda Hospital tested positive… Continue reading

Gov. Newsom orders statewide ban on evictions for renters affected by coronavirus

The measure prevents the evictions of renters over the nonpayment of rent through May 31

San Francisco 911 dispatcher tests positive for coronavirus

Union seeks additional testing for Call Center workers

Breed urges residents to ‘stay home’ as coronavirus cases reach 279

Multiple parking lots closed to discourage prohibited gatherings at beaches, parks

Most Read