HD Supply Reports $514M Loss in 2009
HD Supply reported sales for the fiscal year ended Jan. 31, 2010, were $7.4 billion, down 24% from a year ago. The company recorded a loss of $514 million, compared to the prior year loss of $1.3 billion.
The continued decline in the residential, commercial, and municipal construction markets, decline in the oil and gas markets, and unfavorable fluctuations in prices of commodities, such as steel, PVC, copper, and nickel all attributed to HD Supply’s fiscal year numbers. However, volume declines were partially offset by positive impacts from efforts to gain new market share.
Read herefor the full press release.
Source: Modern Distribution Management