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Home Depot stock sinks after it cuts 2019 forecast

Nancy Marshall-Genzer Nov 19, 2019
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The home improvement store has struggled with its e-commerce initiatives. Above, a Home Depot is El Cerrito, California, in 2018. Justin Sullivan/Getty Images

Home Depot stock sinks after it cuts 2019 forecast

Nancy Marshall-Genzer Nov 19, 2019
The home improvement store has struggled with its e-commerce initiatives. Above, a Home Depot is El Cerrito, California, in 2018. Justin Sullivan/Getty Images
HTML EMBED:
COPY

Home Depot unveiled a new digital plan almost two years ago. It would  speed up online deliveries by building new warehouses and make it easier to pick up online orders at stores. But Tuesday Home Depot said the online overhaul isn’t delivering as much to its bottom line as expected, at least not yet. Shares tumbled almost 5.5% after third-quarter results came out Tuesday and the 2019 forecast was trimmed for the second time this year.

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