HD Supply sales up nearly 15%
HD Supply reported fourth-quarter net sales of $1.8 billion, a 14.8 percent increase compared to the same period in 2010.
Operating income was $24 million for the quarter, compared to a loss of $2 million for the fourth quarter of fiscal 2010.
Loss from continuing operations before income taxes improved $20 million to $139 million in the fourth quarter of fiscal 2011 compared to the fourth quarter of fiscal 2010. Loss from continuing operations for the fourth quarter of fiscal 2011 was $159 million, compared to a loss from continuing operations of $192 million for the fourth quarter of fiscal 2010.
Full-year sales were $7.7 billion, a 10.1 percent increase from the previous year. Operating income for fiscal 2011 was $199 million, an improvement of $133 million compared to operating income of $66 million for fiscal 2010.
“The HD Supply team delivered outstanding, full-year, financial results. We reported our seventh consecutive quarter of year-over-year sales growth and the largest percentage sales increase since 2006 for both the quarter and full year. In addition, we reported our highest gross profit rate since 2005 and our best operating profit since 2007,” said Joe DeAngelo, CEO of HD Supply.
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.
