Pursuits
Home Depot Falls as Slowing Growth Overshadows Forecast Hike
- Same-store sales gains weakened from February through April
- Chain raises annual sales, profit guidance after first quarter
Is Home Depot a Sign of Good Things to Come for U.S.?
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Home Depot Inc. fell after sales growth slowed as the first quarter progressed, overshadowing a forecast increase and profit that beat analysts’ expectations.
Comparable-store sales rose 4.3 percent in April, down from 6.7 percent growth in March and a 10.2 percent gain in February, Chief Financial Officer Carol Tome said on the company’s first-quarter earnings conference call Tuesday.