Lowe's Cuts 2026 Sales View to $92 Billion as DIY Spending Pressure Persists

3 articles · Updated · Yahoo Finance · Aug 19

Lowe's narrowed its 2026 sales target to $92 billion and now expects flat comparable sales, trimming the top end of its prior $92 billion-to-$94 billion range.
DIY demand remained soft in the second quarter as a weak housing market, 6.7% mortgage rates, fuel costs and broader macro uncertainty kept customers cautious on discretionary purchases.
Q2 sales totaled $26 billion and same-store sales rose 0.2%, both shy of expectations, though adjusted EPS of $4.27 beat forecasts with a $0.11 boost from tariff refunds.
Memorial Day weather hurt outdoor categories, and Lowe's said rivals used tariff refunds to fund promotions on grills, patio items and live goods.
Home Depot struck a similar tone a day earlier, saying housing conditions remain "frozen" even as shoppers still take on smaller projects.