The 2020 Mid-Year Economic Update_long

HD Supply’s First Quarter Sales Down 6.6%

Construction and industrial sales decreased 1.1% in the fiscal first quarter.

HD Supply Holdings Inc. (NASDAQ: HDS), Atlanta, Georgia, reported sales of $1.4 billion for the first quarter of fiscal 2020 ended May 3, a 6.6% decrease compared to the first quarter of fiscal 2019. Net income decreased 32.7 percent to $72 million for the first quarter of fiscal 2020, compared to $107 million for the first quarter of fiscal 2019.

Construction and industrial sales decreased 1.1% to $713 million during the quarter. Adjusted EBITDA decreased 5.8% to $65 million in 1Q.

Facilities maintenance sales decreased 11.7% to $682 million during the quarter. Adjusted EBITDA decreased 26.9% to $98 million.

“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.”

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