Lowe's beats quarterly sales estimates on pro demand
Lowe's reported first-quarter sales of $23.08 billion, surpassing Wall Street estimates of $22.97 billion. Steady demand from professional customers helped offset a decline in do-it-yourself projects amid economic uncertainty.
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LOWE'S COS INC reported first-quarter sales of $23.08 billion, exceeding analyst estimates. The retailer relied on steady demand from professional contractors to offset a decline in large-scale DIY projects. Investors are monitoring how professional sales can sustain growth as high interest rates deter household renovation spending.
