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Home Depot cuts 2019 forecast after sales miss, shares drop

from CNBC

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. more

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