Home Depot: cuts sales guidance after disappointing quarter

(CercleFinance.com) - Home Depot, the world's largest home improvement retailer, cut its fiscal 2019 sales guidance after third-quarter sales came in below its expectations

The Atlanta-based company said that it now expects its fiscal 2019 sales to grow by approximately 1.
8%, with comparable sales up approximately 3.5%.

This compares to the group's previous guidance of growth of 2.3%, with 4% comparable sales growth.

For the third quarter, sales reached 27.2 billion dollars, up 3.5%. Comparable sales were up 3.6%.

Third-quarter net earnings reached 2.8 billion dollars, or 2.53 dollars per share, down from 2.9 billion dollars, or 2.51 dollars per share, in the same period of fiscal 2018.

This is due to the group's strategic investments, Home Depot said.

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