Exhibit 99.1

 

 

Investor Contact:

Chris Kelley

HD Supply Investor Relations

770-852-9100

InvestorRelations@hdsupply.com

 

Media Contact:

Quiana Pinckney

HD Supply Public Relations

770-852-9057

Quiana.Pinckney@hdsupply.com

 

HD Supply Holdings, Inc. Announces Fiscal 2013 Full-Year and Fourth-Quarter Results

Fifteen Consecutive Quarters of Year-Over-Year Average Daily Sales Growth

 

Fiscal 2013 Results

 

·            Net sales of $8.5 billion an increase of 7 percent, or 9 percent when adjusting fiscal 2012 to eliminate the impact of the 53rd week and the Crown Bolt contract amendment

·            Operating income of $488 million

·            Adjusted EBITDA of $764 million an increase of 12 percent, or 21 percent as compared to fiscal 2012 As Adjusted

·            Adjusted Net Income per diluted share of $0.58 (Net Loss per diluted share of $1.31)

·            Results, adjusted to include the impact of Litemor, a recently identified discontinued operation, compared with previous guidance:

 

·            Net Sales, adjusted to include Litemor, of $8,569 million compared to guidance of $8,500 million to $8,575 million

·            Adjusted EBITDA, adjusted to include Litemor, of $760 million compared to guidance of $750 million to $760 million

·            Adjusted Net Income per diluted share, adjusted to include Litemor, of $0.56 compared to guidance of $0.52 to $0.58

 

ATLANTA, GA — March 25, 2014

— HD Supply Holdings, Inc. (NASDAQ: HDS), one of the largest industrial distributors in North America, today reported Net sales of $8.5 billion, for the full-year fiscal 2013 ended February 2, 2014, an increase of $732 million or 9.4 percent, as compared to fiscal 2012 when adjusting fiscal 2012 to eliminate the impact of the 53rd week and the Crown Bolt contract amendment. Organic sales growth was 8.1 percent in fiscal 2013 versus fiscal 2012 As Adjusted.  The company believes its organic sales performance represents growth of approximately 600 basis points in excess of its estimate of annual market growth.

 

“I am very pleased with our 2013 performance,” stated Joe DeAngelo, CEO of HD Supply. “We delivered 9 percent sales growth and 21 percent Adjusted EBITDA growth, as adjusted for unusual items, despite a challenging and uncertain market environment.  Our focused growth strategies and investments coupled with our differentiated customer-centric business model continue to deliver profitable growth in excess of our estimate of market growth.”

 

There are several unusual items that impact the comparability of the results of fiscal 2013 and fiscal 2012.

 

Fiscal 2012 includes:

 

·                  53rd week of operations, which represents $147 million in Net sales, $41 million in Gross profit, $14 million in Operating income, and $14 million in Adjusted EBITDA

·                  Crown Bolt and Home Depot amended agreement, which represents $41 million in Net sales, Gross profit, Operating income and Adjusted EBITDA

·                  Crown Bolt goodwill and other intangible asset impairment,  which represents $152 million Operating loss

 


The following information was filed by Hd Supply Holdings, Inc. (HDS) on Tuesday, March 25, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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