The Home Depot
Home Depot confirmed a breach of payment systems at US and Canadian stores, later reporting exposure involving up to 56 million cards.
+2.7% HD vs -1.8% SPY
This site shows how share prices moved after an incident became public. It does not prove that the incident caused the move. Company news, sector moves and the wider market can affect every result. Educational only — not investment advice.
Disclosure timing
When could the market react?
The baseline is the last adjusted close before the news was public. The reaction session is the first close afterward.
- 01Baseline sessionSep 5, 2014
Normalized to 100 for both HD and SPY.
- 02Public disclosureSep 8, 2014 · time unknown
Publication time is not documented; lower timing precision.
- 03First reaction closeSep 8, 2014
-0.9% company total return versus -0.3% for SPY; -0.6 pp market-relative return.
Disclosure time is unknown; the previous session close is used as baseline.
Time windows
Company vs SPY
Each row uses the last trading session on or before its target date. “Market-relative” is the company return minus the SPY return, in percentage points.
| Window | Endpoint | HD | SPY | Market-relative | Signal |
|---|---|---|---|---|---|
| First reaction | Sep 8, 2014 | -0.9% | -0.3% | -0.6 pp | Below SPY |
| +7 days | Sep 15, 2014 | -2.4% | -1.1% | -1.4 pp | Below SPY |
| +1 month | Oct 8, 2014 | +2.7% | -1.8% | +4.5 pp | Above SPY |
| +3 months | Dec 8, 2014 | +10.2% | +3.2% | +6.9 pp | Above SPY |
| +6 months | Mar 6, 2015 | +25.5% | +4.2% | +21.3 pp | Above SPY |
| +12 months | Sep 8, 2015 | +29.7% | +0.1% | +29.6 pp | Above SPY |
Compare with current catalog aggregates
| Window | This case | Catalog median | Catalog mean | n |
|---|---|---|---|---|
| First reaction | -0.6 pp | -0.8 pp | -1.5 pp | 30 |
| +7 days | -1.4 pp | -2.0 pp | -4.0 pp | 30 |
| +1 month | +4.5 pp | -6.6 pp | -6.8 pp | 30 |
| +3 months | +6.9 pp | -5.1 pp | -6.6 pp | 30 |
| +6 months | +21.3 pp | -5.6 pp | -7.5 pp | 30 |
| +12 months | +29.6 pp | -3.7 pp | -10.1 pp | 30 |
Normalized total return
HD compared with SPY
Baseline session = 100. Adjusted close reflects splits and reinvested distributions.
The Home Depot had +29.7% company total return versus +0.1% for SPY; +29.6 pp market-relative return. The chart shows normalized adjusted-close performance for up to 24 months.
View tabular chart fallback
| Date | HD | SPY |
|---|---|---|
| Sep 5, 2014 | 100.0 | 100.0 |
| Oct 6, 2014 | 101.8 | 98.1 |
| Nov 4, 2014 | 104.7 | 100.4 |
| Dec 4, 2014 | 108.5 | 103.7 |
| Jan 6, 2015 | 110.7 | 100.4 |
| Feb 5, 2015 | 119.5 | 103.5 |
| Mar 9, 2015 | 126.4 | 104.7 |
| Apr 8, 2015 | 127.4 | 104.9 |
| May 7, 2015 | 121.3 | 105.4 |
| Jun 8, 2015 | 121.8 | 105.2 |
| Jul 8, 2015 | 123.0 | 103.7 |
| Aug 6, 2015 | 129.2 | 105.6 |
| Sep 4, 2015 | 127.5 | 97.6 |
| Oct 6, 2015 | 132.2 | 100.8 |
| Nov 4, 2015 | 139.7 | 107.2 |
| Dec 4, 2015 | 150.5 | 106.8 |
| Jan 6, 2016 | 144.4 | 101.9 |
| Feb 5, 2016 | 130.3 | 96.4 |
| Mar 8, 2016 | 142.6 | 101.7 |
| Apr 7, 2016 | 150.6 | 105.1 |
| May 6, 2016 | 152.7 | 106.0 |
| Jun 7, 2016 | 146.9 | 109.1 |
| Jul 7, 2016 | 148.3 | 108.5 |
| Aug 5, 2016 | 154.8 | 113.0 |
| Sep 6, 2016 | 152.4 | 113.5 |
| Sep 8, 2016 | 149.2 | 113.2 |
Price recovery
Recovered
Here, recovery only means that adjusted close reached the baseline again. It does not mean every effect of the incident ended.
- State
- Recovered
- Initial trough
- -3.0% on Sep 12, 2014
- Recovery close
- Sep 18, 2014
- Calendar days
- 10
- Observation cap
- 24 months after disclosure
Hypothetical $1,000
What would $1,000 have looked like?
Compare $1,000 in HD with $1,000 in SPY, bought and measured on the same dates.
Entry Sep 11, 2014 Exit Mar 11, 2015
Uses fractional shares and adjusted close. Leaves out taxes, fees and slippage. The holding period starts on the purchase date. This is a historical illustration, not an investment strategy.
Case note
Home Depot confirmed that malware had compromised payment-data systems in US and Canadian stores. Its later quarterly filing quantified exposure involving up to 56 million payment cards and described investigation, notification and remediation costs.
The public announcement gives only a date, so the prior session is the baseline. The later quantified scope is used to support inclusion, not to shift the event date or select the case based on its stock outcome.
Evidence
Sources and case review
We qualify each case before checking its price results. These links support the disclosure date, listing, incident and business impact.
- primary Sep 8, 2014Home Depot September 8, 2014 Form 8-K The Home Depot / U.S. SEC Supports: Disclosure, Listing, Impact, Description
- primary Nov 25, 2014Home Depot third-quarter 2014 Form 10-Q The Home Depot / U.S. SEC Supports: Impact, Description
- Listing evidenceChecked Jul 20, 2026Home Depot September 8, 2014 Form 8-K U.S. Securities and Exchange Commission The event-period filing identifies Home Depot as the NYSE-listed registrant and records the disclosure.
Why it is included. The direct issuer breach affected payment systems across two national store networks, produced a quantified card exposure and led to substantial consumer, legal and remediation activity. Reviewed Jul 20, 2026.