Home Depot misses Q1 estimates

The Home Depot reports that Q1 revenues fell 2.3 percent to $36.42 billion, just shy of analyst estimates of $36.65 billion. On a per-share basis, earnings of $3.63 were in line with an expected $3.59. Comp sales declined for the sixth consecutive quarter, down 2.8 percent as compared to a projected 2.09 percent dip. CEO Ted Decker noted that a late spring impacted the retailer’s results, while homeowners have slowed spending on discretionary projects.