Investing.com -- Truist Securities raised its comparable sales estimates for Home Depot (NYSE:HD) and Lowe’s (NYSE:LOW) for the fourth quarter of calendar year 2024 on stronger-than-expected sales trends based on its proprietary card data.
The firm now expects Home Depot’s U.S. and enterprise comparable sales to rise 0.5%, up from its prior forecast of a 2.0% decline. Similarly, Lowe’s comp sales are now projected to decline by 1.0%, an improvement from the previous estimate of a 2.0% drop.
Investor expectations for both retailers suggest slightly positive comps for Home Depot and modest declines for Lowe’s, Truist noted.
Sales trends at Walmart (NYSE:WMT) and Advance Auto Parts (NYSE:AAP) appear to be in line or slightly ahead of estimates, the firm said. Meanwhile, Genuine Parts Co (NYSE:GPC) is expected to see 4% total sales growth in its auto segment, though industrial sales are forecast to decline by about 3%.
Truist also flagged potential tariff-related cost pressures, noting that price increases could be likely if companies seek to offset higher costs from trade policy changes.
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