HD Supply Loses $202 Million in 1Q 2010

HD Supply, Atlanta, reported net sales for the first quarter of fiscal 2010 of $1.8 billion, a decline of 5.7 percent compared to the first quarter of fiscal 2009.

The operating loss in the first quarter of fiscal 2010 was $21 million compared with an operating loss of $25 million in the first quarter of 2009. Liquidity at the end of the first quarter of fiscal 2010 was $1.2 billion, an increase of approximately $275 million versus the end of fiscal 2009. Consolidated net loss for the first quarter of fiscal 2010 was $202 million, compared to net income of $10 million for the same period in fiscal 2009. Details