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Updated from 11:31 a.m. EDT
Bad weather and a slumping housing market caused Home Depot(HD Quote) to miss first-quarter targets, the home improvement retailer said Tuesday.
"This was a difficult first quarter for us," CEO Frank Blake told analysts during a conference call. "While we expected a tougher quarter, this was worse than we expected."
The Atlanta-based home-improvement retailer earned $1.05 billion, or 53 cents a share, for the quarter ended April 29, down from the year-ago $1.48 billion, or 70 cents a share. Sales inched up 0.6% from a year ago to $21.59 billion. ...
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