Home Depot Lowers FY19 Sales Guidance On Continued Lumber Price Deflation

The Home Depot (HD), a home improvement retailer, updated its guidance for fiscal 2019, a 52-week year. The company now projects sales to grow by approximately 2.3 percent and comp sales to be up approximately 4.0 percent. In May, the company projected fiscal 2019 sales to grow by approximately 3.3 percent and comp sales to be up approximately 5.0 percent. However, the company reaffirmed its earnings-per-share growth guidance for fiscal 2019.

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