Home Depot same-store sales miss Wall St. forecasts

February 26, 2019

(Reuters) – Home Depot Inc missed Wall Street estimates for same-store sales on Tuesday, as rising U.S. home prices weakened housing demand and construction activity.

The nation’s largest home improvement retailer said sales at U.S. outlets open for at least 52 weeks rose 3.2 percent in the fourth quarter ended Feb. 3, below analysts’ average forecast of a 4.5 percent increase, according to IBES data from Refinitiv.

Quarterly net sales rose to $26.49 billion, but missed analysts’ expectations of $26.57 billion.

(Reporting by Nivedita Balu in Bengaluru; Editing by Sai Sachin Ravikumar)

Comments (No)

Leave a Reply