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CLAIM #38157 · Lowe's Companies Inc (LOW) · 2024Q1 earnings call · May 21, 2024 · due Dec 31, 2024

we're going to see again, a much more historical relationship between ticket and transaction over the course of the second half of the year.

Brandon Sink · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

et and transactions, we're, for the most part, expecting average ticket to hold, consistent over the course of the remainder of the year just as we saw here in Q1, some slight pressure, ticket related, as we've shifted down in the smaller ticket seasonal projects, which has boosted transactions. And then we're also seeing continued ticket pressure, as I mentioned, from the DIY big-ticket discretionary and that includes some of the appliance promo pressure. But the flip side is, Pro growth continues to run strong for us, which is helping mix ticket up. And then as we look at really the second half of the year and the cadence improve, again, it's a function of really what we're cycling and we expect the transactions to start to pick up as we accelerate into the second half of the year, and we're going to see again, a much more historical relationship between ticket and transaction over the course of the second half of the year. Gregory Melich: Got it. And then a follow-up on the gross margin. It's still flat for the year, but you'd expect it to be down in the second quarter similar to 1Q and then up 50 bps in the back half. Is that the right way to model that? Brandon Sink: I won't put a specific number on Q2, but we do expect Q2 to be similarly pressured with supply chain investments and some of the credit pressure that we're continuing to see. But for sure, as we get into the second half, we're seeing the improved -- the acceleration of PPI flow through with some of the supplier clawback cost out. There's some timing benefits that will come through in the second half of the year and then some of the credit pressures just start to ease. Again, that's a cycling, a timing issue as we started to see some of the

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SEC filings for LOW · Claim quote is verbatim from the 2024Q1 earnings call.