Reporting a slightly higher performance in quarterly sales, the Home Depot Inc revealed an improve job market is the main reason for this growth, as more homeowners are foreseen to spend more on renovations, but it came slightly below than the estimates of Wall Street.
Home Depot revealed the growth despite that their data systems were breached leading to about 56 million of affected card payments. It added that it might encounter possible breach related spending, such as legal actions to impact results for this and the coming quarters.
Store sales opened at a rose of at least 5.2 percent during the third quarter last year on November 2 going up against average analysis of five percent, based on studies released by Consensus Metrix. In the United States, where the company has 85 percent of its stores, same- store sales improved at 5.8 percent while net sales increased to 5.4 percent ($20.52B) slightly higher than industry analysis of only $20.47B, based on Thomson Reuters.
Despite system breach, the company revealed if the same has any impact on their sales. Nevertheless, it affirmed its sales growth to up to 4.8 percent for the full year as well as earnings of $4.5 per stock share, figure including $54M data breach net cost.