'Cold, snowy, wet': Home Depot suffers as winter hits house makeovers

- Home Depot Inc missed Wall Street forecasts for quarterly sales on Tuesday, as a snowy winter prevented many Americans from remodeling home exteriors in a housing market that is slowing on the back of high prices.

Separately, official data on Tuesday showed U.S. housing starts hitting a two-year low in December on falling construction of both single and multi-family housing, a significant source of revenue for Home Depot and smaller rival Lowe’s.“It was cold, it was snowy, and perhaps worst of all, it was wet,” Home Depot Chief Executive Craig Menear said on a conference call with analysts.

The Atlanta-headquartered retailer also projected full-year earnings below estimates, forecasting $10.03 per share, against expectations of $10.26. “There are definitely some concerns that Home Depot’s business will come under more pressure as the economy and housing market slow down,” he said.

If only someone warned them about seasons and people's willingness to work outside in extreme temps.

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