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Home Depot lowers forecast for fiscal year

The world's largest home improvement chain, The Home Depot Inc., has cut its earnings forecast for its fiscal year ending in February, citing slow sales in December. The Atlanta-based retailer also said it expects its same-store sales for the fourth quarter to fall as much as 10 percent. The company

said earnings per share for the year would total $1.53 to $1.55, down from an earlier projection of $1.57. In the third quarter, the retailer posted its lowest percentage gain in quarterly sales--an increase of 8.9 percent--since going public in 1983.

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