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Home Depot cuts sales expectations, blaming tariffs and lumber prices

The company is projected slower sales growth, along with revenue numbers just shy of expectations, in their latest earnings report.

ATLANTA — Home Depot is cutting its sales expectations for the year because of falling lumber prices and the potential damage from tariffs.

The company now expects sales to rise 2.3%, down from earlier forecasts of 3.3%.

The home-improvement retailer on Tuesday reported a second-quarter profit of $3.48 billion, or $3.17. That's a dime better than Wall Street had expected, according to a survey by Zacks Investment Research.

Revenue was $30.84 billion, just short of expectations.

The Home Depot Inc. expects full-year earnings to be $10.03 per share.

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