HD Supply sales up 6.9 percent
HD Supply Holdings reported preliminary sales results of $2.29 billion for the third quarter, a 6.9% increase from the same period last year.
The estimates were prepared for the upcoming Baird Industrial Conference in advance of a full quarterly financial report.
The company said sales in August grew by 6.5% to $720 million, compared to $676 million in August 2012. September sales increased by 8.1% to $690 million, compared to $639 million in September 2012, and preliminary estimates for October show sales of $885 million, compared to $831 million in the same month last year, a 6.5% gain.
"Our preliminary estimate for third quarter sales reflects solid execution in the midst of market uncertainties," said Joe DeAngelo, CEO of HD Supply. "Our sales growth continues to outpace our estimates of market growth, despite continued sluggishness in non-residential, increased softness in utility and increased uncertainty in municipal end-markets, all of which we expect to be a headwind for the remainder of our fiscal year. As we navigate through these market conditions, our focus remains on controllable execution. We will invest for growth while at the same time reducing costs across our businesses, enabling us to continue strengthening our leadership positions in our attractive markets."
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.
