Home Depot says business is weakening

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Friday, Jan. 19, 2001 | 11:27 a.m.

THE ASSOCIATED PRESS

ATLANTA -- Stifled by weak prices and a slowing economy, Home Depot Inc. warned today that its fourth-quarter earnings will fall short of expectations on flat sales.

The world's largest home-improvement retailer said it expects to earn 20 cents per share for the three months ending Jan. 28, 4 cents lower than the consensus of analysts surveyed by First Call/Thomson Financial. Home Depot earned 25 cents per share in the same period a year ago.

The company said the revision was caused by "a declining economy" and continued price weakness in lumber, building materials and related products.