ATLANTA - The Home Depot Inc., the nation's largest home improvement store chain, blamed a slowing housing market as it reported a 3.1 percent drop in third-quarter profit on a marked decline in sales at stores open at least a year. The company also lowered its earnings per share and sales growth guidance for the year.
The results, announced before the stock market opened Tuesday, missed Wall Street expectations.
The Atlanta-based company said it earned $1.49 billion, or 73 cents a share, for the three months ending Oct. 29, compared with a profit of $1.54 billion, or 72 cents a share, for the same period a year ago.
Analysts surveyed by Thomson Financial were …
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