Lowe's Cos. will likely spend time talking about second-quarter sales on its earnings call Wednesday morning after revenue missed FactSet estimates, according to Credit Suisse. The home improvement retailer reported $18.26 billion in sales, missing the $18.44 billion consensus. "Sales is probably what matters most here, and that will be the focus for the call, including if there were any usual trends or shifts that may have occurred," analysts wrote in a note. Both Lowe's and Home Depot Inc. reported an earnings lift from outdoor sales in the first quarter. "Results likely indicate that Lowe's benefited more from seasonal trends in the first quarter, when it delivered significant upside to comps," Credit Suisse wrote. "Pull forward, plus less favorable weather in the second quarter for Lowe's may have impacted results." Analysts say they'll be listening for weather impact, the impact of the acquisition of Canadian home improvement retailer Rona Inc. and discussion of gross margins, which were expected to expand. Lowe's shares are down 4.6% in premarket trading, but up 12.4% for the past year. The S&P 500 Index is up 3.6% for the last 12 months.
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