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UBS' Lasser Tells CNBC Why Lowe's (LOW) Has Underperformed Home Depot

NEW YORK (TheStreet) --Lowe's (LOW) reported 2016 second-quarter earnings that missed analyst expectations, before the market open on Wednesday. The home improvement store reported earnings of $1.31 per share on revenue of $18.26 billion. The street had been estimating for earnings of $1.42 per share on revenue of $18.44 billion.

UBS research analyst Mike Lasser joined CNBC's "Squawk on the Street" today to break down the report and highlight why Lowe's underperformed its rival Home Depot (HD).

"Why did Lowe's underperform Home Depot? Our theory is that Lowe's is more levered to the seasonal categories...


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