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Stock impact report

Lowe's reaffirms full-year guidance despite Q1 sales dip [Yahoo! Finance]

Lowe's Companies, Inc. (LOW) 
Last lowe's companies, inc. earnings: 2/26 06:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Lowe's on Wednesday reaffirmed its financial guidance for the year as others in the retail industry cut their outlooks. The home improvement retailer reported first-quarter sales fell 2% year over year to $20.9 billion, while comparable sales fell 1.7%. Mid-single-digit comp sales growth in both Pro and online partially offset negative impacts from “unfavorable weather” early in the quarter, the company said. Profits fell during the quarter as operating income declined 6% to $2.5 billion and net income fell 6.5% to $1.6 billion. Despite falling sales in the first quarter, Lowe's, like rival Home Depot, reaffirmed its financial outlook for the year. It comes as other retailers pull their guidance, including American Eagle Crocs and Carter's , as tariff-related uncertainty weighs on the industry. Lowe's CEO Marvin Ellison said the retailer is committed to diversifying its sourcing efforts. About 60% of the retailer's purchases originate in the U.S., while 20% is sourced from Ch Show less Read more
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