Home Depot sales miss estimates in fourth quarter

Reuters

Home Depot Inc reported weaker-than-expected sales in the fourth quarter as inclement weather hurt traffic to its stores in the United States, and its shares fell on Tuesday.

The world's largest home improvement chain's sales fell 3 percent to $17.70 billion, missing the analysts' estimate of $17.91 billion, according to Thomson Reuters I/B/E/S.

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It kept a tight lid on costs to offset lackluster sales.

Net earnings were $1.01 billion, or 73 cents a share, compared with $1.02 billion, or 68 cents a share, a year earlier. Analysts were looking for a profit of 71 cents a share.

(Reporting By Dhanya Skariachan Editing by W Simon)