0724 ET - Lowe's is higher following a slight beat on comp sales and reaffirmed guidance, Jefferies' Jonathan Matuszewski and Randal Konik say in a research note. The home improvement retailer's 1Q comp sales declined 1.7% year-over-year, while Street expected a 2% decline. The analysts note that gross margins of 33.4% exceeded expectations of 33.2%, so they expect attention on the earnings call regarding drivers of the slight outperformance. Their key points to watch on the call include Lowe's approach to pricing following partial tariff relief and quarter-to-date trend relative to the April exit rate, among others. Shares tick up 2% premarket. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 21, 2025 07:24 ET (11:24 GMT)
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