HD Supply sales up 9.8%
HD Supply Inc. reported net sales for the fiscal 2012 second quarter of $2.1 billion, an increase of 9.8 percent compared to the second quarter of fiscal 2011.
However, the company reported a loss of $56 million for the quarter.
“Over the last two years, we’ve experienced substantive net sales and adjusted EBITDA growth, and that trend has continued into the first half of fiscal 2012,” said Joe DeAngelo, CEO of HD Supply. “We’ve created new, sustainable revenue opportunities with existing and new customers that have become key drivers for our continued growth.”
Adjusted EBITDA for the second quarter of fiscal 2012 increased 23.9 percent to $192 million from $155 million in the second quarter of fiscal 2011.
For the first six months of the year, sales were $3.9 billion, an increase of 11.8 percent compared to the first half of fiscal 2011. Loss from continuing operations for the first half was $432 million.
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.
