HD Supply sales up 10.7%
HD Supply Inc. reported net sales for the fiscal 2011 third quarter of $2.1 billion, an increase of 10.7 percent compared to the third quarter of fiscal 2010.
Gross profit for the third quarter of fiscal 2011 increased 11.1 percent to $580 million compared to $522 million for the third quarter of fiscal 2010.
Operating income for the third quarter of fiscal 2011 was $78 million, an improvement of $31 million compared to operating income of $47 million for the third quarter of fiscal 2010. However, the company reported a loss from continuing operations of $106 million, compared to a loss of $90 million for the third quarter of fiscal 2010.
"The third quarter results mark the company's sixth consecutive quarter of year-over-year sales growth," said Joe DeAngelo, CEO. "Our accelerating growth and financial strength are a reflection of the exemplary performance by HD Supply associates and their successful collaborative efforts with our customers and suppliers."
Net sales for the nine months ended Oct. 30 were $5.9 billion, an increase of 8.7 percent compared to the same period last year. Loss from continuing operations for the nine months was $360 million, compared to a loss of $392 million for the same period of fiscal 2010.
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.
