Home Depot cuts outlook, cites housing

In June, its board authorized a $22.5 billion increase in a stock repurchase program.

The company said it plans to open about 108 new stores this fiscal year, and its operating margin would decline by 1.5 percentage points due to the negative same-store sales and investments in its operations.

Home Depot, a component of the Dow Jones industrial average , was down about 1 percent at $39.75 in electronic trading, compared with its Monday close of $40.23 on the New York Stock Exchange.