HD Supply sales decline 5.7 percent
HD Supply reported net sales for the first quarter of fiscal 2010 of $1.8 billion, a decline of 5.7 percent compared to the first quarter of fiscal 2009.
The operating loss in the quarter was $21 million compared with an operating loss of $25 million in the first quarter of 2009.
Consolidated net loss for the first quarter of fiscal 2010 was $202 million, compared to net income of $10 million for the same period in fiscal 2009.
"I am exceptionally proud of the HD Supply teams' execution and although our industry remains challenged, we are beginning to see signs of recovery. Our growing liquidity and the extension of the majority of our debt maturities to 2014 enables continued investment in our business to accelerate future profitable growth," said Joe DeAngelo, chief executive officer. "Our teams are intensely focused on earning new business and providing outstanding service to our customers."
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
