Lowe’s beats expectations despite soft Q1

Retail Dive

CEO Marvin Ellison said during a Tuesday earnings call that the weather, the housing market, and inflation - which continues to depress discretionary spending - remain perennial pressures on retail’s home improvement sector.

Telsey Advisory Group analysts led by Joe Feldman echoed that sentiment in their own note Tuesday, saying Lowe’s should remain a long-term share gainer. The company will also benefit from its multifaceted strategy of focusing on pro customers, enhancing digital, improving installation services, driving localization and elevating its assortment, Telsey’s analysts said.

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