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EARNINGS-Home Depot cuts 2019 sales forecast, shares fall

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Uday Sampath Reuters
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Credit: REUTERS/MIKE BLAKE

Home Depot Inc cut its full year sales forecast on Tuesday, saying it was taking longer than expected for its investments to integrate its online and in-store shopping experience to pay off.

Nov 19 (Reuters) - Home Depot Inc HD.N cut its full year sales forecast on Tuesday, saying it was taking longer than expected for its investments to integrate its online and in-store shopping experience to pay off.

The home improvement chain's shares fell 8% in pre-market trading.

Same-store sales at Home Depot rose 3.6% in the third quarter ended Nov. 3, below expectations of a 4.7% increase, according to IBES data from Refinitiv.

Home Depot said it expected its fiscal 2019 sales to rise about 1.8%, compared to a prior forecast of a 2.3% increase.

(Reporting by Uday Sampath in Bengaluru Editing by Tomasz Janowski)

((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223 8780; Twitter: @sampath_uday; Reuters Messaging: UdaySampath.Kumar.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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