HD Supply quarterly sales up
Reports 2010 Q2 net sales $2.0 billion, an increase of $1 million over Q2 '09.
The company reported a net loss of $115 million, compared to a net loss of $89 million for the same period in fiscal 2009. Excluding the 2010 and 2009 charges for valuation allowances, the net loss of $82 million in the second quarter of fiscal 2010 compares with a net loss of $85 million in the second quarter of fiscal 2009.
Net sales for the first six months of fiscal 2010 were $3.8 billion, a decline of 2.8 percent compared to the first six months of fiscal 2009. Operating income in the first six months of fiscal 2010 improved $11 million to $5 million compared with an operating loss of $6 million in the first six months of fiscal 2009.
"As we enter the second half of this year, we are beginning to see signs of economic and industry stabilization and are cautiously optimistic. We continue to invest in the critical growth areas for our business that will uniquely position HD Supply to grow faster than the markets as they recover," said Joe DeAngelo, CEO, HD Supply.
Source: IndustrialSupplyMagazine.com
