Home Depot Falls After Forecast Cut on Weak Remodeling Demand

Home Depot Inc. cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases.

The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast. The company said its profit and comparable sales came in lower than expected in the last quarter, citing the overall weakness in the housing market and a lack of storms that hampered demand in roofing, generators and other categories.