Comparable sales of Home Depot were lower than forecasts in the first quarter

Comparable sales of Home Depot, the largest US chain of stores selling tools for repair and building materials, in the first quarter ended April 29, 2018, for the first time in the last 7 quarters did not reach Wall Street forecasts. The reason for this was a slower than expected start of the spring sales season amid the cool weather in several states. The volume of transactions of the company for the quarter decreased by 1.3%. The growth in sales in Home Depot stores, opened more than a year ago, did not reach the forecasts of the analysts, who had expected a rise in sales by 5.38%. Net profit amounted to 2 billion 400 million dollars with a projected profit of 2 billion 50 million dollars.

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