HD Supply Inc. (NASDAQ: HDS), Atlanta, GA, has announced it will dispose of its Litemor business, a specialty lighting distributor included within the HD Supply Canada business.
Litemor's fiscal 2013 operating results reflect $82 million of net sales and a loss of $4 million in adjusted EBITDA.
As a result of the intent to dispose of the business, Litemor is being reflected as a discontinued operation for all periods presented. The company expects to incur a charge within discontinued operations of between $10 million and $25 million during fiscal 2014 for the disposition of the Litemor business.
The remaining HD Supply Canada business, Brafasco, an industrial MRO distributor specializing in fasteners, power tools and safety products throughout Canada, will be integrated with HD Supply White Cap.
