Sales rise 13.4% at HD Supply
HD Supply reported net sales for the third quarter of fiscal 2012 of $2.1 billion, a 13.4% increase over net sales in the third quarter of fiscal 2011. Operating income for the third fiscal quarter, which ended Oct. 28, 2012, was $114 million compared with $65 million a year ago.
The improvement in operating income reflects sales growth and an approximately 140 basis point decline in operating expenses as a percent of net sales, according to the company. Loss from continuing operations for the third quarter of fiscal 2012 was $53 million, an improvement of $66 million as compared with the third quarter of fiscal 2011.
Another highlight of the quarter, the company said, were net sales and adjusted EBITDA growth in all four of the company’s core businesses: Facilities Maintenance, Waterworks, Power Solutions and White Cap.
“A true measurement of the team’s success is our improved year-over-year performance,” said Joe DeAngelo, CEO of HD Supply. “We’re very pleased that our business has experienced 10 consecutive quarters of continuous growth.”
HD Supply is one of the largest industrial distribution companies in North America. The company operates approximately 630 locations across 46 states and nine Canadian provinces. They provide a broad range of products and services to approximately 440,000 professional customers in the infrastructure and energy, maintenance, repair and improvement, and specialty construction markets.