Skip to content
Subscriber Only

Home Depot Tumbles Most in 21 Months on Weaker Sales Outlook

  • Stock drops 5.6% after quarterly results missed estimates
  • Online investments didn’t materialize as early as expected
PG&E Warns of Biggest Blackout Ever as Windstorm Approaches
Photographer: David Paul Morris/Bloomberg
Updated on

Home Depot Inc.’s shares fell as much as 5.6% in New York trading, the biggest decline since February 2018, after the retail giant missed third-quarter sales estimates and trimmed its annual growth outlook for the second time in three months.

Some online investments didn’t pan out as early as expected, and the benefits will take longer to materialize, Home Depot said in a statement Tuesday. Same-store sales -- a key measure of a chain’s performance -- gained 3.6% last quarter, compared with the average projection for 4.6% growth, according to Consensus Metrix.