HD Supply sales decline 6.6 percent
HD Supply Holdings said its net sales of $1.4 billion for the first quarter of fiscal 2020 were down 6.6 percent compared to $1.5 billion in the first quarter of fiscal 2019.
Net income of $72 million, or 45 cents per diluted share, compared to $107 million, or 63 cents, for the first quarter of fiscal 2019.
"The COVID-19 pandemic has created extraordinary challenges, but our focus has remained clear. We have prioritized the health and well-being of our associates and their families while continuing to serve our customers and our communities. Our associates have worked tirelessly to fulfill our responsibilities and I am proud of each and every one of them," said Joe DeAngelo, chairman and CEO of HD Supply. "We are encouraged by improving results in May, and we will continue to support our customers and communities as they work to safely resume economic activity."
Facilities Maintenance segment net sales decreased 11.7 percent to $682 million, compared to $772 million for the first quarter of fiscal 2019.
Construction & Industrial segment net sales decreased 1.1 percent to $713 million, compared to $721 million for the first quarter of fiscal 2019.
Preliminary net sales in May 2020 were approximately $431 million, which represents a year-over-year average daily decline of approximately 7.3 percent. Preliminary May year-over-year average daily net sales decline by business segment was 13.4 percent in Facilities Maintenance and 1.4 percent in Construction & Industrial.
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.
