May 21 (Reuters) - Home improvement retailer Lowe's Cos

posted a smaller-than-expected drop in first-quarter

comparable sales on Wednesday, as shoppers spent on maintenance

projects while holding off on big-ticket purchases amid higher

borrowing costs.

The company also joined rival Home Depot ( HD ) in

reiterating annual forecast. Atlanta-based Home Depot ( HD ) said on

Tuesday it would not raise prices despite tariffs-led

uncertainty, owing to its diversified supply chain and stronger

hold in the professional customer base.

Shares of the North Carolina-based Lowe's rose about 2% in

premarket trading. The stock has dropped 6% so far this year.

Lowe's has expanded its business that serves professional

customers, such as home builders and property managers, to

counter sluggish demand in do-it-yourself categories. It also

added suppliers closer to the coast to avoid any delays in

shipping.

It expects comparable sales for 2025 to be flat to up 1% and

earnings per share in the range of $12.15 to $12.40.

The company reported a 1.7% drop in same-store sales for the

quarter ended May 2, compared with analysts' average estimate of

a 2% decline, according to data compiled by LSEG.

(Reporting by Savyata Mishra in Bengaluru; Editing by Shinjini

Ganguli)