HD Supply 1Q sales up 12.6%
HD Supply reported net sales for the first quarter increased 12.6% to $2.1 billion.
The company reported a loss of $131 million for the period, compared to $360 million last year.
Gross profit for the first quarter of fiscal 2013 increased by $75 million, or 14.3 percent, to $598 million compared to $523million for the first quarter of fiscal 2012. All all four of the company’s largest businesses, Facilities Maintenance, Waterworks, Power Solutions, and White Cap, reported growth.
“The fiscal 2013 first quarter was yet a further continuation of our strong performance as we continue to benefit from growth in our businesses and strengthening market conditions,” said Joe DeAngelo, CEO of HD Supply. “We’re pleased with the first-quarter results, marking our 12th consecutive quarter of year-over-year sales growth.”
In a separate announcement, HD Supply Facilities Maintenance said it open a new distribution center in Calera, Ala., near Birmingham. The 350,000 square-foot facility will support customers in the Southeast, including Alabama, Tennessee, Mississippi, Louisiana and the Florida panhandle.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
