HD Supply Reports Huge Losses

HD Supply, Atlanta, reported a 27-percent drop in sales and a $257-million loss during its fiscal third quarter.

According to information HD Supply released to the Securities Exchange Commission on Dec. 15, it plans to consolidate 25 branch locations and cut 350 employees. The company’s 10-Q report also said its Electrical business suffered a net sales decline in the third quarter of $56 million compared to the third quarter of 2008, and a decline of $105 million through the first nin

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