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Retail Results Will Show Amazon’s Effect

Customers shop in a Home Depot store in Miami, Fla., earlier this year. Home improvement...

Their uniqueness in the retail landscape will be driven home next week as the two chains report second-quarter earnings. Analysts project sales at existing stores will rise 4.8% at Home Depot and 4% at Lowe’s, according to data provider FactSet. That would mark the eighth straight quarter of at least 4% year-over-year growth for each company.

The retailers that have reported earnings thus far have pointed to slightly improving trends from earlier in the year. But they also have seen their business models upended by the rise of online shopping that reduces the need to visit a store for a sweater or blender. Macy’s is responding by closing 100 locations.

Executives from the home improvement chains cite a litany of favorable housing trends...