After many years after the pandemic battles, Lowe’s (low) gave me an expertise.
The home improvement chain reported revenue Wednesday morning, which corresponded to income and overcame income. Revenue decreased by 2% per year to $ 20.93 billion.
Marvin Ellison, CEO of Lowe, said in a report that the company had overcome the “uncertainty of the nearest period and the housing market” through “strategic investment in technology …[and] The shop environment is invited. ”
Sales of the same stores decreased by 1.7%, better than expected by 2.04%. This is a change after the growth of the same store sales for the first time in two years first appeared positive. The company attributed the recession to the “unfavorable weather in the quarter”, which was reimbursed by the “mid—professional professional and comparable to the online sales growth.”
Lowe stock trading increased by almost 3%. The Lowe shares decreased by about 6% per year by Wednesday, compared to 1% increase in S&P 500 (^GSPC).
To date, the shares of the competitor home depot (HD) decreased by 3.1%. On Tuesday, she announced the ambiguous report of the earnings because she repeated the guidelines and said that the rates would not raise prices.
Here’s what Bloomberg has reported Lowe for its first quarter revenue compared to Wall Street Consensus:
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Income: $ 20.93 billion compared to $ 20.93 billion
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Adjusted profits per share: $ 2.92 compared to $ 2.88
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Growth of the same store sales: -1.7%compared to -2.04%
The company repeated its instructions for the 2025 fiscal year. The total sales are expected to be between $ 83.5 and $ 84.5 billion, and sales of the same store are expected to increase to 1% per year.
The uncertainty of tariffs remains the most important concern. The US has temporarily abandoned Chinese import rates from 145% to 30%, and so -called mutual rates were suspended by 10% universal duty. However, the rates are still much higher than they were historically, and the changing tariff environment has caused consumer moods.
Lowe sources 20% of its sales from China and have a large DIY customer base. Factors that will make a “more sophisticated reduction of tariffs” compared to Home Depot compared to Home Depot, TD Cowen analyst Max Rakhlenko wrote in a letter before earnings.
He added that Home Depot is a “better opportunity to handle tariffs”, partly because of the larger business of professionals.
Another factor weighing of the retailer is the sluggish housing market. The home builder’s confidence in May continued to deteriorate. Sales are expected in the next six months, and the flow of future buyers has also fallen to 18 months at the lowest level.