HD Supply sales up 6 percent
HD Supply Holdings Inc. reported net sales increased 6 percent to $2.2 billion for the first quarter of fiscal 2015.
Net income for the quarter was $242 million, or $1.21 per share, compared to a net loss of $12 million, or 6 cents, for first quarter of fiscal 2014.
First quarter net income benefited from the final settlement of an IRS audit that effectively closed tax years 2007 and 2008, resulting in a $189 million non-cash tax credit.
“I am very pleased with our solid first quarter performance. We delivered 6 percent sales growth, 14 percent adjusted EBITDA growth and 94% adjusted EPS growth,” said Joe DeAngelo, CEO of HD Supply. “Despite adverse weather and a challenging environment, we remained focused on controllable execution to deliver profitable growth in excess of our market growth estimates while keeping our teams safe.”
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.
