Home Depot stock drops after sales miss and lowered outlook, citing lumber deflation and bad weather
Shares of Home Depot Inc. HD, dropped 3.0% toward a seven-month low in premarket trading Tuesday, after the home improvement retail giant reported fiscal first-quarter profit that topped expectations but sales that fell short, and cut the full-year outlook., citing lumber deflation, reduced demand and unfavorable weather. Net income for the quarter to April 30fell to $3.87 billion, or $3.82 a share, from $4.32 billion, or $4.09 a share, in the year-ago period. That the FactSet consensus for earnings per share of $3.80. Sales declined 4.2% to $37.26 billion, well...