Lowe's shares rise 2% despite sales falling short of Wall Street expectations

An employee organizes buckets for sale inside a Lowe's Cos. store in Burbank, California.

Lowe's on Wednesday delivered a mixed earnings report for the fourth quarter, but shares rose in premarket trading.

Bad winter weather and a cooling real estate market in the U.S. hurt the largest home improvement retailer in the country during the fourth quarter.

Home Depot's outlook for 2019 also wasn't as strong as some analysts were expecting, as the state of the housing market could still pose challenges in the year ahead.

Now with Ellison at the helm, Lowe's has been overhauling its business in a bid to stay competitive with Home Depot.

It's ending its Mexico retail operations and has been shutting stores in North America to focus on its most profitable locations.

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