Home improvement retailer Lowe's Cos posted a smaller-than-expected drop in first-quarter comparable sales on Wednesday, as shoppers spent on maintenance projects while holding off on big-ticket purchases amid higher borrowing costs.

Lowe's maintained its outlook for the year even as sales declined in its latest quarter, joining a handful of companies to stick with its guidance despite uncertainty brought on by tariffs.

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The home improvement retailer posted revenue of $20.93 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $20.92 billion. Lowe's expects full-year earnings to be $12.15 to $12.40 per share, with revenue in the range of $83.5 billion to $84.5 billion.

Home renovation retailer Lowe’s is offering big discounts as part of their Memorial Day sale, running from today until Wednesday, May 28. Lowe’s is featuring up to 40% off select appliances, as well as lots of garden tools,

Morgan Stanley said the market is expecting Lowe’s to report -3% comparable sales versus -2% consensus mainly due to lower traffic, implying a ~100 bps deceleration on a 2-year stack.

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At Lowe’s, April sales tumbled nearly 3% year-over-year after having risen 6.6% in March, debit and credit card purchase data from Affinity Solutions revealed. Home Depot saw just a 0.7% jump after a 4.2% rise in March, according to the data.

After Walmart recently warned that tariffs would force it to raise some prices, Home Depot said it [would hold the line](https://

Lowe's Companies ( NYSE: LOW) gained in premarket action despite beating consensus estimates with its Q1 earnings report and sticking by its full-year guidance despite the macroeconomic backdrop.