ATLANTA — The Home Depot reported third-quarter sales of $27.2 billion, an increase of 3.5%, or $921 million, compared to the third quarter of fiscal 2018. Comparable sales were positive 3.6%, with comp sales in the U.S. positive 3.8%. Net earnings for the third quarter dipped to $2.8 billion, from $2.9 billion. Craig Menear, chairman, CEO and president of Home Depot, admitted that “sales were below our expectations.”
The company also revised downward its guidance for fiscal 2019. The Company expects its 2019 sales to grow by approximately 1.8% and comp sales to increase approximately 3.5%. This compares to the Company’s prior sales growth guidance of 2.3% and comp sales growth of 4.0%.
