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Home Depot, Inc. (HD)

  • Oct. 10, 2014, 12:45 PM
    • Home Depot (HD +0.4%) presented today at meeting focused on Asian investors.
    • The company says its long-term target is to raise operating margin by 140 bps to 13%.
    • There was considerable discussion about the "stage 2" of the housing recovery underway in the U.S. The difference between a moderate recovery or a sharp one has big implications for the home improvement giant.
    • Home Depot expects to gain more efficiency from supply chain changes and forecasting improvements.
    • FY14 guidance is reiterated: Sales growth ~4.8%; Comp store growth ~4.6%, EPS $4.54; store openings +6.
    • Home Depot's Asia Investors Meeting presentation (.pdf)
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  • Sep. 24, 2014, 1:13 PM
    • NPD Group reports the U.S. small home appliance saw sales rise 4% to $19.6B for the year ending June 2014.
    • Perhaps a surprise, growth in the rice cooker and electric kettles categories were stronger than what was seen for single-serve brewing systems and countertop blenders.
    • Related stocks: GMCR, SBUX, WHR, CONN, HGG, HD, NC, SWK, SODA,
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  • Sep. 23, 2014, 7:15 PM
    • The Home Depot (NYSE:HD) data breach has started to trigger fraudulent transactions that are rippling across financial institutions and, in some cases, draining cash from customer bank accounts, WSJ reports.
    • Financial institutions are said to be increasing efforts to block the transactions by rejecting them if they appear unusual; HD has said that 56M cards may have been exposed in a five-month attack on its payment terminals.
    • The amount of fraud and the type of illicit transactions reportedly are not much different from activity that has followed other large attacks, but that could change quickly in the coming weeks.
  • Sep. 20, 2014, 3:05 PM
    • Computer experts inside Home Depot (NYSE:HD) had warned for years that they might be easy prey for hackers, the NY Times says.
    • Former members of HD's cybersecurity team say the company was slow to respond to early threats and only belatedly took action, that it relied on outdated software to protect its network and scanned systems irregularly, and that some members of its security team left after managers dismissed their concerns.
  • Sep. 19, 2014, 9:24 AM
    • Though Home Depot's (NYSE:HD) data breach involved 16M more accounts than Target's (NYSE:TGT), so far the damage to the company and the stock has been lower.
    • While Target disclosed its attack during the peak of the holiday season and saw an immediate drop in store traffic, Home Depot announced its breach during a slower period after the peak summer peak selling season.
    • Wedbush notes that Home Depot also benefited from "data-breach fatigue" in the retail sector.
  • Sep. 18, 2014, 4:41 PM
    • Home Depot (NYSE:HD) discloses that information on 56M payments cards was put at risk from the cyber-attack which occurred earlier this year.
    • The data was comprised through advanced malware which entered the Home Depot system back in April.
    • IT security at Home Depot's U.S. stores has been enhanced in response, says the company.
    • Canadian stores, which use EMV technology (smart cards), will see an even higher level of encryption with a new roll-out.
  • Sep. 10, 2014, 2:46 AM
    • Along with five states that have launched a probe into the data breach at Home Depot (NYSE:HD), two senators have now asked the Federal Trade Commission to investigate.
    • Home Depot has yet to say what exactly was stolen, although experts estimate that the breach affected over 40M payment cards.
    • Meanwhile, the first lawsuit from a customer has surfaced over the cyberattack, sueing the home improvement retailer for failing to properly safeguard customer data.
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  • Sep. 9, 2014, 1:57 AM
    • Home Depot (NYSE:HD) has confirmed that its payment systems were breached at nearly 2,200 U.S. and Canadian stores due to a cyberattack that likely began in April.
    • The breach seems to have been been caused by similar malware used against Target last winter, and the company is now working aggressively to root out its infected data systems.
    • Home Depot says there are no indications that PIN numbers from debit cards were compromised.
    • HD -0.6% AH
  • Sep. 4, 2014, 3:40 PM
    • UBS runs the numbers on recent data breaches at major retailers such as Target, Michaels Companies, and Sally Beauty Holdings to find share prices in the group lagged the S&P over the two months following the breach disclosure.
    • The hit to the companies' sales was generally short-lived, with comp sales picking up in the quarter following the news.
    • The damage at Home Depot (HD +1.1%) could be even more minimal with the breach following closely behind Target's own data troubles, reasons UBS.
    • Shares of HD are about 3.6% off the all-time highs they etched out last week.
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  • Sep. 2, 2014, 3:48 PM
    • Home Depot (HD -2.4%) confirms it's looking into "unusual activity" as it works with law enforcement officials in relation to a possible loss of customer credit card and debit card information.
    • Early reports indicate the breach occurred in late April and could involve over 2K Home Depot stores.
    • Shares of Home Depot have recouped a bit from their initial slide after the breach report broke. Some retail analysts called the peeling off of $3.5B in market cap somewhat overdone.
    • What to watch: If the breach is as large as some banks are reporting, an increased push by the industry toward the adoption of smart card technology could be on the way.
    • Related EMV stocks: PAY, NCR, MA, V, OTCQX:IFNNY, NXPI,
  • Sep. 2, 2014, 1:44 PM
    • Shares of Home Depot (HD -3.1%) are lower after reports the company might have suffered a massive credit card breach.
    • There is some evidence that Russian and Ukrainian hackers are responsible for the breach in what could be retaliation against U.S. intervention and sanctions against Russia.
  • Aug. 21, 2014, 4:29 PM
    • Home Depot (NYSE:HD) has named U.S. retail chief Craig Menear its new CEO, effective Nov. 1. Frank Blake, who has been Home Depot's CEO since 2007, will remain chairman.
    • Bloomberg reported in March Menear, who was only promoted in February, was the favorite to succeed Blake (just turned 65) as CEO.
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  • Aug. 21, 2014, 2:48 PM
    • Home Depot (NYSE:HD) declares $0.47/share quarterly dividend, in line with previous.
    • Forward yield 2.06%
    • Payable Sept. 18; for shareholders of record Sept. 4; ex-div Sept. 2
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  • Aug. 20, 2014, 8:38 AM
    • Argus boosts its price target on Home Depot (NYSE:HD) to $100 after the retailer showed sparkling comp growth in Q2.
    • The investment firm has shares rated as a Buy.
    • The Home Depot $100 PT club now has Argus and Barclays as members.
    | 1 Comment
  • Aug. 19, 2014, 7:19 AM
    • Home Depot (NYSE:HD) says it will buy back $3.5B worth of shares in FY14.
    • The repurchase tally is the same amount as Home Depot has already purchased this year to date.
    • The total buyback guidance of $7B is above Home Depot's original estimate of $5B.
    • Previous: Q2 earnings, details
    • HD +3.6% premarket
    | 1 Comment
  • Aug. 19, 2014, 6:55 AM
    • Home Depot (NYSE:HD) reports comparable-store sales rose 5.8% in Q2. Comp growth in the U.S. was 6.4%.
    • Transactions +4.2% to $409.7M.
    • Average ticket +1.8% to $58.43.
    • Sales per square foot +5.5% to $403.90.
    • Inventory +5.2% to $11.665B.
    • Guidance: Net sales are expected to rise 4.8% for the fiscal year. Full-year EPS of $4.52 is forecast vs. $4.41 consensus.
    • HD +3.5% premarket
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Company Description
Home Depot Inc is a home improvement retailer. Its stores sell an assortment of building materials, home improvement and lawn and garden products and provide a number of services.