Home improvement retailer Lowe's posted a smaller-than-expected drop in first-quarter sales on Wednesday and said it plans to keep its pricing competitive, without ruling out the possibility of price hikes on some items due to tariffs.

Lowe’s receives products from Canada, Mexico, China and other parts of Southeast Asia, like South Korea, Ellison previously said. While some Trump tariffs have been paused or adjusted since early April, many remain in effect. That includes 10% tariffs on all countries, with higher rate imposed on countries like Canada, Mexico and China.

FY2025 sales reached $20.9 billion with comparable sales down 1.7%, and mid-single-digit growth in Pro sales helped offset weaker DIY demand.