HD Supply's losses narrow
Wholesale distributor HD Supply's sales increased nearly 5 percent, as the company's losses narrowed.
HD Supply lost $164 million in the first quarter, as compared to $202 million for the first quarter last year. It reported net sales of $1.9 billion despite weakness in the construction industry and unfavorable weather.
The company said its operating income was positive in the first quarter for the first time since 2008, in what is traditionally one of the weaker quarters.
Joe DeAngelo, HD Supply's CEO, said in a statement that the company added locations for the first time since 2007 and is looking for acquisitions or opportunities to grow.
The company expects the residential construction market "to remain challenging," he said.
About the Author
Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.
