HD Supply’s First Quarter Sales Up 7.5%This post was originally published on this site
HD Supply Holdings Inc. (NASDAQ: HDS), Atlanta, reported sales of $1.5 billion for the first quarter of fiscal 2019 ended May 5, a 7.5% increase compared to the first quarter of fiscal 2018. Net income increased 20.2% to $107 million for the first quarter, compared the year-ago period.
Construction and industrial sales increased 8.3% to $55 million during the quarter. Organic sales for the unit grew 4.7%. Sales in the facilities maintenance unit increased 6.8% to $772 million.
“The team overcame significant unfavorable weather in February to deliver on our promises during the first quarter of 2019,” stated Joe DeAngelo, chairman and CEO of HD Supply. “In this current dynamic environment, we are intensely focused on what we can control, delivering profitable growth and executing on our capital allocation strategy.”
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