MAAT INDEX

CLAIM #37878 · Lowe's Companies Inc (LOW) · 2021Q4 earnings call · Feb 23, 2022 · due Jun 30, 2022

Secondly, we are seeing higher levels of commodity inflation than what we planned back in December, largely in lumber. So that is ticking our sales progression up slightly in the first half of the year.

David Denton · CFO

CANNOT_DETERMINE
resolved by a revision, graded at the moved level · official band 5 percent
Committed
we are seeing higher levels of commodity inflation than what we planned back in December, largely in lumber. So that is ticking our sales progression up slightly in the first half of the year
Reported
as lumber prices declined several weeks earlier than we expected, gross margin pressure will shift into Q2 as we continue to turn through our higher cost inventory layers

In context

t. Operator: Our next question comes from the line of Chris Horvers with JPMorgan. Christopher Horvers: Can I just -- can you just delve into the factors a bit more about what's driving the increase in the comp outlook in 2022? So to what extent are you expecting a higher level of market growth versus what you laid out in December? To what extent are you assuming more share gains? And then how does that compare to your expectations on price inflation and how lumber will play out? David Denton: Yes. I think there's really 3 things that are driving our increase in our guide from a top line perspective. One is we do think the market is going to perform a bit better. And by the way, we still think we're going to -- and believe and plan for us outpacing the market from a growth perspective. Secondly, we are seeing higher levels of commodity inflation than what we planned back in December, largely in lumber. So that is ticking our sales progression up slightly in the first half of the year. And then third, we're seeing really strong sustainable performance in our Pro business. And that demand has been really consistent through Q4 and we're leaning into Q1 in a very consistent manner -- in healthy manner from a Pro business perspective. Marvin Ellison: Chris, I'm going to just add a little commentary on the Pro business, this is Marvin. We did a cost survey stated Pro that we issued out publicly. And just a couple of interesting data points. When we talk to Pros and DIY customers, both said that they see continued investment in the home. The DIY, I said at a pace of 50% today, we're going to do DIY projects and a roughly 50% say they would hire Pro. And then when you talk to our Pro customers, we have in detail, they continue to let us know that their book of business is mor

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SEC filings for LOW · Claim quote is verbatim from the 2021Q4 earnings call.