HD Supply sales rise 13.4%
HD Supply Inc. reported third-quarter net sales of $2.1 billion, an increase of 13.4 percent compared to the third quarter of fiscal 2011.
The company posted a net loss of $50 million for the quarter.
“A true measurement of the team’s success is our improved year-over-year performance. We’re very pleased that our business has experienced 10 consecutive quarters of continuous growth, an outstanding accomplishment, achieved via our associates’ unwavering hard work and dedication,” said Joe DeAngelo, CEO of HD Supply. “We believe our performance momentum, coupled with our relentless focus on our customers and the expanding depth and breadth of our products and services offerings, will result in continued operational performance improvement for the remainder of the fiscal year.”
Net sales for the first nine months increased 12.4 percent to $6.0 billion.
Loss from continuing operations for the first nine months of fiscal 2012 was $485 million, which included a $220 million loss on extinguishment of debt.
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.
