Sales rise at HD Supply
HD Supply has reported net sales for its fiscal 2010 fourth quarter of $1.7 billion, a 6.7% rise over sales in the fourth quarter of fiscal 2009. Operating loss for the quarter, which ended Jan. 30, 2011, was $11 million, compared with $87 million in the fourth quarter of fiscal 2009.
For the full year, net sales for fiscal 2010 were $7.5 billion, an increase of 0.8% over the full year of fiscal 2009. Operating income in fiscal 2010 was $32 million, an increase of $354 million compared with the full year of fiscal 2009, which included a $224 million pre-tax goodwill impairment charge. Excluding the goodwill impairment charge in fiscal 2009, adjusted operating income for fiscal 2010 increased $130 million compared with fiscal 2009.
In a prepared statement, company CEO Joe DeAngelo addressed the company’s liquidity, which increased $426 million during the fiscal year, resulting in $1.3 billion at the end of the fourth quarter.
“In 2010, our associates’ continued focus on our customers, and our significant investments in the company to accelerate sales and growth momentum enabled us to gain market share and report year-over-year improved financial results, the first since 2007,” DeAngelo said. “Furthermore, our liquidity remains very strong, which allows us to meet our commitments and continuously invest in profitable growth.”
Stock hires former Home Depot exec
Mark Fikse has joined Stock Building Supply as the division president and general manager for the Southeast region, reporting to CEO Jeff Rea, according to a company statement. He will be responsible for business operations in North and South Carolina and Georgia.
Before joining Stock, Fikse served as a principal with American Capital since 2006. He was president of Creative Touch Interiors, a subsidiary of The Home Depot from 2000 to 2005. Prior to that, Fikse was VP strategic business development for The Home Depot from 2000 to 2002. He has also held positions with McKinsey & Co., Accenture and Blue Ridge Partners.
LP gets ULC listing for Flameblock sheathing
LP’s Flameblock sheathing, a fire-resistant oriented strand board (OSB), has earned a UL listing from the Underwriters Laboratories Canada (ULC). This listing followed three rounds of fire testing by ULC, satisfying requirements for use of the ULC label on the product. The testing was conducted at ULC’s fire testing facility in Toronto, Ontario.
Designed to slow the spread of heat and flames in the event of a fire, LP FlameBlock Fire-Resistant OSB Sheathing features a thin coating of non-toxic magnesium oxide cement and fiberglass strongly bonded to oriented strand board. The coating is highly resistant to fire, while simultaneously increasing the structural performance of the panel.
LP FlameBlock Sheathing is ICC-certified for common roof and wall designs in multi-family and commercial buildings. It can also be used in applications where building codes require a flame-spread rating or burn-through resistance rating — or where designers and builders desire fire resistance in addition to structural strength and impact resistance. LP FlameBlock Sheathing contains no hazardous chemicals.