HD Supply Sales Up 10% in Fiscal 2011 - Modern Distribution Management

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HD Supply Sales Up 10% in Fiscal 2011

Losses from continuing operations lessened for the diversified distributor.

HD Supply, Inc., Atlanta, GA, No. 2 on the list of top industrial distributors, reported sales for the fiscal year ended Jan. 29, 2012, were $7.7 billion, up 10.1 percent over last year. Loss from continuing operations for fiscal 2011 was $519 million, compared to a loss from continuing operations of $584 million for fiscal 2010.

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For the fourth quarter, sales increased 14.8 percent to $1.8 billion. Loss from continuing operations was $159 million, compared to a loss from continuing operations of $192 million for the fourth quarter of fiscal 2010.

\”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, CEO Joe DeAngelo said. \”In addition, we reported our highest gross profit rate since 2005 and our best operating profit since 2007.\”

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