The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Home Depot Inc shares fell as much as 2.5% Wednesday as the retailer’s sales and operating margin guidance for next year disappointed Wall Street. The forecasts were provided ahead of the its 2019 Investor and Analyst Conference.
Analysts weren’t completely surprised by the guide down, following Home Depot’s weaker-than-expected third-quarter report November19, which included cuts to its current year comparable sales and net sales forecasts.
The slightly lower views will result in earnings-per share reductions for the year ending in January 2021, sell-side analysts said on Wednesday morning.