HD Supply sales improve
HD Supply reported net sales for the first quarter increased 6 percent to $2.2 billion.
Net loss improved $119 million to $12 million for the first quarter of fiscal 2014 compared to a net loss of $131 million for the first quarter of fiscal 2013. Net loss per diluted share was 6 cents in the first quarter of fiscal 2014, as compared to a net loss per diluted share of $1.00 in the first quarter of fiscal 2013.
“I am pleased with our solid performance this quarter, despite the adverse impact of the severe weather we experienced throughout February and March. We remain cautiously optimistic that our end markets will continue to build on the emerging strength that we are seeing in select geographies,” said Joe DeAngelo, CEO of HD Supply. “We remain focused on controllable execution to deliver profitable growth in excess of our market.”
Sales at White Cap increased 11 percent to $344 million in quarter.
Facilities Maintenance sales increased 8 percent to $604 million, Waterworks net sales increased 5 percent to $551 million, and Power Solutions net sales declined than one percent to $461 million.
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.
