Lowe's reports smaller-than-expected drop in sales on steady demand
The company also joined rival Home Depot (HD.N), opens new tab in reiterating annual forecast. Atlanta-based Home Depot said on Tuesday it would not raise prices despite tariffs-led uncertainty, owing to its diversified supply chain and stronger hold in the professional customer base.
Shares of the North Carolina-based Lowe's rose about 2% in premarket trading. The stock has dropped 6% so far this year.
Lowe's has expanded its business that serves professional customers, such as home builders and property managers, to counter sluggish demand in do-it-yourself categories. It also added suppliers closer to the coast to avoid any delays in shipping.
It expects comparable sales for 2025 to be flat to up 1% and earnings per share in the range of $12.15 to $12.40.
The company reported a 1.7% drop in same-store sales for the quarter ended May 2, compared with analysts' average estimate of a 2% decline, according to data compiled by LSEG.
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