Home Depot’s Sales Fall Short on Lackluster Housing Recovery

A key gauge of Home Depot Inc. sales missed expectations in the latest quarter as muted housing demand and high borrowing costs limited consumer spending on improvement projects.

Sales at locations open at least a year rose 0.6% during the three months ended May 3, according to a statement, slightly below the average of analysts’ estimates compiled by Bloomberg. Earnings per share, excluding some items, beat expectations.