Weather bolsters Lowe's top line, and labor initiatives should continue to help leverage expenses.
While third-quarter sales results at wide-moat Lowe’s beat our implied outlook, with comparable-store growth of 5.7% versus our 3.8% estimate, the company was helped by $200 million in revenue and 1.4% in comps from hurricane-related sales. Given that Lowe's is maintaining its full-year outlook for 3.5% comp store and 5% revenue increases, in line with our prior forecast, which included comp store and revenue growth of 3.4% and 5.1%, respectively, we don’t anticipate any material change to our $...
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