Home Depot quarterly profit rises 14 percent

Reuters News
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Posted: Nov 18, 2014 6:10 AM

(Reuters) - Home Depot Inc <HD.N>, the world's largest home improvement chain, reported a 14 percent rise in quarterly profit as an improving job market encouraged Americans to spend more on renovations.

Net income rose to $1.54 billion, or $1.15 per share, in the third quarter ended Nov. 2, from $1.35 billion, or 95 cents per share, a year earlier.

Same-store sales rose 5.2 percent.

Net sales rose 5.4 percent to $20.52 billion.

Home Depot said on Sept. 18 that hackers stole details on about 56 million payment cards between April and September. It said earlier this month that about 53 million email addresses were also stolen in the attack.

(Reporting by Nandita Bose and Sruthi Ramakrishnan in Bangalore; Editing by Savio D'Souza)