August 20, 2019 / 10:13 AM / a month ago

Home Depot cuts full-year sales forecast

Aug 20 (Reuters) - Home Depot Inc cut its full-year sales forecast on Tuesday, blaming a slump in lumber prices and the impact of tariffs resulting from the U.S.-China trade war.

The home improvement chain said it now expects its 2019 sales to rise about 2.3%, down from a prior forecast of a 3.3% increase.

Net sales rose to $30.84 billion from $30.46 billion in the second quarter ended Aug. 4, marginally missing analysts' average estimate of $30.98 billion, according to IBES data from Refinitiv. (Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

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