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Home Depot on Tuesday cut its full-year profit forecast and missed Wall Street's earnings expectations for the third straight quarter as it saw weaker home improvement demand, tepid consumer spending and lower-than-usual storm activity.

The retailer said it now expects full-year sales will climb about 3% and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to be slightly positive. That compares with its previous expectations for full-year sales to grow by 2.8% and comparable sales to increase by 1%.

The revised outlook includes an estimated $2 billion in incremental revenue from GMS , a building products distributor that Home Depot acquired ea

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