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Home Depot Falls Most in the Dow With Pandemic Boom Fading

  • Average purchase price rises, but transactions slide
  • Shares head for eighth straight decline on earnings day
   
Photographer: David Paul Morris/Bloomberg
Updated on

Home Depot Inc. fell the most in the Dow Jones Industrial Average after the retailer posted weaker-than-expected results in the second quarter, joining the trend of early pandemic winners coming back to Earth after outsize gains over the past year.

Same-store sales, a key metric in retail, rose 4.5% in the period ended Aug. 1, the Atlanta-based company said Tuesday in a statement. That missed the 5.6% average of analysts estimates.