Nov 19, 2019
Home Depot stock sinks after it cuts 2019 forecast
The home improvement giant has struggled with its e-commerce initiatives, as a lot of people still turn to in-store employees for advice.
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 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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