Home Depot’s profits up despite data breach

ATLANTA — The Home Depot has reported sales of $20.5 billion for the third quarter of fiscal 2014, a 5.4% increase from the third quarter of fiscal 2013. Same-store sales were positive 5.2%, with comp sales for U.S. stores positive 5.8%. Net earnings were $1.5 billion, up 184% from $1.4 billion a year earlier. Third-quarter results reflect a pretax gain of $100 million related to the sale of a portion of the company’s ownership in HD Supply Holdings.

However, the costs related to Home Depot’s much publicized data breach of recent months resulted in pretax net expenses of $28 million. While the company anticipates an overall sales increase this year of 4.8%, it warns that further costs related to the data breach, including lawsuits, may reduce that increase.