Home Depot HD reported its third quarter results Tuesday morning. The company's management hosted a conference call shortly after to discuss its quarter and future outlook.
Below are some of the highlights from the call:
Third Quarter In Review
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- All merchandising divisions showed a positive comparison in the quarter.
- Big ticket purchases were driven by flooring and counters.
- Appliance sales were in-line with overall gains.
- Purchases above $900 rose 5.9 percent in the quarter.
- Third quarter online sales rose around 40 percent.
- Data breach related costs is expected to be $6 million after insurance claims.
- Any bias in forecasting sales would be on the upside.
- November sales is “impressing” the company so far.
- Comp sales growth is estimated to be 4.6 percent.
- Data breach related costs for the entire year is estimated to be $34 million.
- Company plans on repurchasing $7 billion worth of shares for the entire year.
- The effect on sales from the data breach is difficult to determine.
- 2015 home prices are expected to rise but won't be as “robust” as 2014.
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