Report: Lowe's makes moves in Brazil

Citing insider sources, Bloomberg reported Friday that Lowe's is working with Goldman Sachs in its search for acquisitions in Brazil, although the company is still reportedly weighing its options.

The move would help Lowe's establish a presence in a market without clear leaders -- one that's expanding as incomes (and the number of new homeowners) grows in Brazil. As it stands, there's little competition aside from corner hardware stores.

According to the sources, Lowe's is considering buying part of BR Home Centers, a home improvement holding company, as well as Curitiba-based Balaroti Materiais de Construcao SA.

The companies involved have yet to comment, Bloomberg reported.

Lowe's will report its second quarter earnings early Wednesday morning.