Home Depot cuts 2019 forecast after sales miss, shares drop
Home Depot shares recently tumbled about 5% after the company said it would take more time for its investments to pay off. The Atlanta-based home improvement retailer once again cut its 2019 forecast and reported same-store sales well below estimates. Although earnings came in a penny better than expected, the company said revenue, which also missed analysts’ targets, was hurt by spending on improvements to its IT systems, stores and supply chain.
7701 Las Colinas Blvd., Ste. 800, Irving, TX 75063