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Home Depot’s Sales Rise in Q2

The Home Depot today reported sales growth for the second quarter of 2015.

The retailer had sales of $24.8 billion, for a 4.3 percent increase above the second quarter of fiscal 2014. Comparable U.S. store sales for the second quarter of fiscal 2015 were up 5.7 percent.

“We were pleased with this quarter’s results. We saw balanced growth across our business resulting from strength in the core of the store as well as the continued recovery of the U.S. housing market,” president  and CEO Craig Menear says. “I would like to thank our associates for their hard work and dedication.”

For the quarter, the company also noted pretax net expenses of $92 million related to the company’s 2014 data breach. The home improvement retailer had confirmed in September that its payment data systems were breached, and customer information was stolen from people who had shopped at stores in the U.S. and Canada between April and September.

The data breach expenses reported today include an accrual for estimated probable losses that Home Depot expects to incur in connection with claims made by the payment card companies.

At the end of the second quarter, Home Depot operated a total of 2,270 retail stores in the U.S., Puerto Rico, U.S. Virgin Islands, Guam, Canada and Mexico.

To read more on Home Depot’s second-quarter earnings report, click here.

About Kate Klein

Kate is profiles editor for Hardware Retailing magazine. She reports on news and industry events and writes about retailers' unique contributions to the independent home improvement sector. She graduated from Cedarville University in her home state of Ohio, where she earned a bachelor's degree in English and minored in creative writing. She loves being an aunt, teaching writing to kids, running, reading, farm living and, as Walt Whitman says, traveling the open road, “healthy, free, the world before me.”

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