8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 6, 2014

BLUELINX HOLDINGS INC.

(Exact name of registrant specified in its charter)

Delaware	001-32383	77-0627356
(State or other	(Commission	(I.R.S. Employer
jurisdiction of incorporation)	File Number)	Identification No.)

4300 Wildwood Parkway, Atlanta, Georgia	30,339
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (770) 953-7000

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02    Results of Operations and Financial Condition

On November 6, 2014, BlueLinx Holdings Inc. (“BlueLinx” or “the Company”) issued a press release announcing its financial results for the fiscal third quarter ended October 4, 2014. A copy of BlueLinx’ press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

On November 6, 2014, as previously announced, BlueLinx held a teleconference and audio webcast to discuss its financial results from the fiscal third quarter ended October 4, 2014. The webcast will be archived and can be accessed via BlueLinx’ website at www.BlueLinxCo.com. Additionally, BlueLinx has posted slides at its website, under the investor relations page, which were referenced during the audio webcast. These slides are furnished as Exhibit 99.2 hereto. All information on the slides and in the webcast is presented as of November 6, 2014, and BlueLinx does not assume any obligation to update such information in the future.

To supplement GAAP financial information, we may use adjusted measures of operating results which are non-GAAP measures. This non-GAAP adjusted financial information is provided as additional information for investors. These adjusted results exclude certain costs, expenses, gains and losses, and we believe their exclusion can enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of our operating performance by excluding non-recurring, infrequent or other non-cash charges that are not believed to be material to the ongoing performance of our business. The presentation of this additional information is not meant to be considered in isolation or as a substitute for GAAP measures of net earnings, diluted earnings per share or net cash provided by (used in) operating activities prepared in accordance with generally accepted accounting principles in the United States.

The information included in this Item 2.02, as well as Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.    

Item 9.01     Financial Statements and Exhibits

(d)              Exhibits

Exhibit No.	Description
99.1	Press release, dated November 6, 2014, reporting financial results for the fiscal third quarter ended October 4, 2014
99.2	Webcast conference call slides used during webcast conference call on November 6, 2014

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BLUELINX HOLDINGS INC.
By:	/s/ Susan C. O’Farrell
Susan C. O’Farrell
Senior Vice President, Chief Financial Officer,             Treasurer & Principal Accounting Officer

Dated: November 6, 2014

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release, dated November 6, 2014, reporting financial results for the fiscal third quarter ended October 4, 2014
99.2	Webcast conference call slides used during webcast conference call on November 6, 2014

EX-99.1

Exhibit 99.1

4300 Wildwood Parkway

Atlanta, GA  30339

1-888-502-BLUE

www.BlueLinxCo.com

BlueLinx Contacts:

Susan O’Farrell, SVP, Treasurer & CFO                        Investor Relations:

BlueLinx Holdings Inc.                                Caroline Lowden, Director Finance

(770) 953-7000                                    (770) 953-7522

FOR IMMEDIATE RELEASE

BLUELINX ANNOUNCES THIRD-QUARTER RESULTS

- Adjusted EBITDA of $11.1 Million Best Since 2008 -

- Excess Availability of $88 million -

ATLANTA - November 6, 2014 - BlueLinx Holdings Inc. (NYSE:BXC), a leading distributor of building products in North America, today reported financial results for the fiscal third quarter ended October 4, 2014.

Third Quarter Financial Highlights

• Same Center Sales of $549.8 million up $14.3 million, or 3%, compared to fiscal third quarter 2013

• Gross Profit of $64.6 million, up 3% from $62.5 million in fiscal third quarter 2013

• Gross Margin of 11.7% of sales, up 50 basis points from 11.2% in fiscal third quarter 2013

• Adjusted EBITDA of $11.1 million, compared to $7.2 million in fiscal third quarter 2013

• Excess availability of $88 million as of October 4, 2014

“We are pleased to report fiscal third quarter 2014 Adjusted EBITDA of $11.1 million. These results continue our positive year over year trend since our first quarter and reflect continued momentum in executing our initiatives. Adjusted EBITDA of $11.1 million represents an improvement of approximately $3.9 million from the fiscal third quarter of 2013, while our same center sales improved by 3%.” said Mitch Lewis, President and Chief Executive Officer.

Susan O’Farrell, Senior Vice President and Chief Financial Officer added, “As previously announced in August, the company extended our $20 million loan component of the U.S. revolving credit facility through June 2015.  We ended the third quarter with excess availability of $88 million, and our year to date cash used by operations improved $17.4 million over the fiscal nine months ended 2013.  We continue to closely manage our business to enhance our liquidity position.”

Third Quarter 2014 Financial Results Compared to Prior Year Period

Revenues for the fiscal third quarter ended October 4, 2014, decreased by $8.1 million, or 1%, to $549.8 million compared to $557.9 million in the fiscal third quarter ended September 28, 2013. Same center revenues for the fiscal third quarter 2014 grew by 3% compared to the year ago period of $535.5 million. Overall, same center revenues were up for the quarter due to unit volume growth in the specialty business as well as higher pricing in plywood and lumber categories.

Gross profit in the fiscal third quarter 2014 was $64.6 million, up $2.1 million, or 3%, compared to the fiscal third quarter 2013. Gross profit on a same center basis for the fiscal third quarter 2014 increased by $2.9 million, or 5%, compared to the fiscal third quarter of 2013. Gross margin increased 50 basis points in fiscal third quarter 2014, to 11.7% from 11.2% in the fiscal third quarter of 2013.

The Company recorded an improvement of $2.3 million to a net loss of $0.9 million, $(0.01) per diluted share, in the fiscal third quarter 2014 compared to the net loss of $3.2 million, $(0.04) per diluted share, in the prior year period.

1

Adjusted EBITDA for the fiscal third quarter 2014 improved to $11.1 million from an Adjusted EBITDA of $7.2 million for the same period a year ago. Adjusted EBITDA for the fiscal third quarter and fiscal nine months ended 2014 and 2013, are shown in the following table:

BlueLinx Holdings Inc.
Unaudited reconciliation of GAAP net income (loss) to Non-GAAP Adjusted EBITDA (in thousands)  (1)
	Fiscal   Q3 2014			Fiscal   Q3 2013			Fiscal   2014 YTD			Fiscal   2013 YTD
GAAP net income (loss)	$	(0.9	)	$	(3.2	)	$	(6.2	)	$	(38.2	)
Adjustments:
Depreciation and amortization	2.4			2.1			7.2			6.5
Interest expense	6.8			6.9			20.1			21.0
Provision for (benefit from) income taxes	(0.1		)	(0.6		)	(0.1		)	(0.7		)
Loss from closed distribution centers	—			1.9			—			3.7
Gain from the sale of properties	—			(3.7		)	(5.3		)	(3.9		)
Share-based compensation expense, excluding restructuring	0.5			1.0			1.8			2.9
Restructuring, severance, debt fees, and other	2.4			2.8			5.2			11.0
Adjusted EBITDA same center	$	11.1		$	7.2		$	22.7		$	2.3

⁽¹⁾ Immaterial rounding adjustments and differences may exist between tables and previously issued presentations.

Liquidity and Capital Resources

As of October 4, 2014, the Company had $88 million of excess availability under its asset-backed revolving credit facilities, based on qualifying inventory and receivables.

Conference Call

BlueLinx will host a conference call today at 3:00 p.m. Eastern Time, accompanied by a supporting slide presentation. Investors can listen to the conference call and view the accompanying slide presentation by going to the BlueLinx web site, www.BlueLinxCo.com, and selecting the conference link on the Investor Relations page. Investors will be able to access an archived recording of the conference call for one week by calling 404-537-3406, Conference ID# 21238432. The recording will be available two hours after the conference call has concluded. Investors also can access a recording of this call on the BlueLinx website, where a replay of the webcast will be available for 90 days.

Use of Non-GAAP Measures

BlueLinx reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company also believes that presentation of certain non-GAAP measures, i.e., results excluding certain charges or other nonrecurring events, when appropriate, provides useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, without the impact of significant special items, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides a better baseline for modeling future earnings expectations. Any non-GAAP measures used herein are reconciled in the financial tables accompanying this news release. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company’s reported GAAP results.

Adjusted EBITDA is a non-GAAP measure that management uses to evaluate the performance of the Company. Adjusted EBITDA, as we define it, is an amount equal to net income (loss) plus interest expense and related items, income taxes, stock compensation, depreciation and amortization, further adjusted to exclude other non-cash items and certain other adjustments. Adjusted EBITDA is presented herein because we believe it is a useful supplement to cash flow from operations in understanding cash flows generated from operations that are available for debt service (interest and principal payments) and further investment in acquisitions. However, Adjusted EBITDA is not a presentation made in accordance with GAAP, and is not intended to present a superior measure of the financial condition from those determined under GAAP.

2

About BlueLinx Holdings Inc.

BlueLinx Holdings Inc., operating through its wholly owned subsidiary BlueLinx Corporation, is a leading distributor of building products in North America. The Company is headquartered in Atlanta, Georgia and operates its distribution business through its current network of 49 distribution centers. BlueLinx is traded on the New York Stock Exchange under the symbol BXC. Additional information about BlueLinx can be found on its website at www.BlueLinxCo.com.

Forward-looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our ability to return to profitability, our outlook on the housing industry, and our guidance regarding anticipated financial results. All of these forward-looking statements are based on estimates and assumptions made by our management that, although believed by BlueLinx to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of BlueLinx’s control that may cause its business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things: changes in the prices, supply and/or demand for products that it distributes, general economic and business conditions in the United States; the activities of competitors; changes in significant operating expenses; changes in the availability of capital and interest rates; adverse weather patterns or conditions; acts of cyber intrusion; variations in the performance of the financial markets, including the credit markets; and other factors described in the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the year ended January 4, 2014, and in its periodic reports filed with the Securities and Exchange Commission from time to time. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. BlueLinx undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, and changes in expectation or otherwise, except as required by law.

- Tables to Follow -

3

BLUELINX HOLDINGS INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(unaudited)

	Three Months Ended   October 4, 2014			Three Months Ended   September 28, 2013			Nine Months Ended   October 4, 2014			Nine Months Ended September 28, 2013
Net sales	$	549,845		$	557,952		$	1,525,283		$	1,665,697
Cost of sales	485,265			495,460			1,345,994			1,491,563
Gross profit	64,580			62,492			179,289			174,134
Operating expenses:
Selling, general, and administrative	56,136			57,255			158,006			185,184
Depreciation and amortization	2,403			2,144			7,176			6,547
Total operating expenses	58,539			59,399			165,182			191,731
Operating income (loss)	6,041			3,093			14,107			(17,597		)
Non-operating expenses (income):
Interest expense	6,777			6,918			20,090			21,026
Other expense (income), net	193			17			313			252
Income (loss) before provision for (benefit from) income taxes	(929		)	(3,842		)	(6,296		)	(38,875		)
Provision for (benefit from) income taxes	(69		)	(636		)	(65		)	(714		)
Net income (loss)	$	(860	)	$	(3,206	)	$	(6,231	)	$	(38,161	)
Basic and diluted weighted average number of common shares outstanding	86,399			84,596			85,820			78,492
Basic and diluted net income (loss) per share applicable to common stock	$	(0.01	)	$	(0.04	)	$	(0.07	)	$	(0.49	)

4

BLUELINX HOLDINGS INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

	October 4, 2014			January 4, 2014
	(unaudited)
Assets:
Current assets:
Cash and cash equivalents	$	7,839		$	5,034
Receivables, net	205,845			150,297
Inventories, net	264,920			223,580
Other current assets	25,087			22,814
Total current assets	503,691			401,725
Property, plant, and equipment:
Land and land improvements	41,095			41,176
Buildings	90,116			90,082
Machinery and equipment	77,230			73,004
Construction in progress	478			3,028
Property, plant, and equipment, at cost	208,919			207,290
Accumulated depreciation	(102,569		)	(96,171		)
Property, plant, and equipment, net	106,350			111,119
Non-current deferred income tax assets, net	824			824
Other non-current assets	16,560			14,821
Total assets	$	627,425		$	528,489
Liabilities:
Current liabilities:
Accounts payable	$	105,307		$	60,363
Bank overdrafts	19,573			19,377
Accrued compensation	6,872			4,173
Current maturities of long-term debt	71,717			9,141
Deferred income taxes, net	823			823
Other current liabilities	13,685			12,949
Total current liabilities	217,977			106,826
Non-current liabilities:
Long-term debt	382,514			387,238
Other non-current liabilities	37,608			40,323
Total liabilities	638,099			534,387
Stockholders’ deficit:
Common Stock	888			866
Additional paid-in capital	252,529			251,150
Accumulated other comprehensive income (loss)	(16,192		)	(16,293		)
Accumulated deficit	(247,899		)	(241,621		)
Total stockholders’ deficit	(10,674		)	(5,898		)
Total liabilities and stockholders’ deficit	$	627,425		$	528,489

5

BLUELINX HOLDINGS INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)

	Nine Months Ended October 4, 2014			Nine Months Ended September 28, 2013
Cash flows from operating activities:
Net income (loss)	$	(6,231	)	$	(38,161	)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	7,176			6,547
Amortization of debt issuance costs	2,483			2,396
Write-off of debt issuance costs	—			119
Gain from the sale of properties	(5,251		)	(3,908		)
Vacant property charges, net	—			1,398
Severance charges	1,877			4,703
Restructuring payments	(2,323		)	(1,977		)
Intraperiod income tax allocation related to the hourly pension plan	(224		)	(840		)
Pension expense	675			3,443
Share-based compensation expense, excluding restructuring related	3,316			2,866
Share-based compensation expense, restructuring related	—			2,711
Increase in restricted cash related to insurance and other	(667		)	(2,028		)
Increase in prepaid assets	(3,183		)	(761		)
Other	770			1,255
Change in net cash from other operating activities	(1,582		)	(22,237		)
Changes in primary working capital components:
Receivables	(55,548		)	(50,462		)
Inventories	(41,340		)	(29,663		)
Accounts payable	45,042			31,568
Net cash used in operating activities	(53,428		)	(70,794		)
Cash flows from investing activities:
Property, plant, and equipment investments	(1,816		)	(4,005		)
Proceeds from disposition of assets	7,240			8,073
Net cash provided by investing activities	5,424			4,068
Cash flows from financing activities:
Excess tax benefits from share-based compensation arrangements	—			16
Repurchase of shares to satisfy employee tax withholdings	(957		)	(2,867		)
Repayments on the revolving credit facilities	(337,547		)	(422,231		)
Borrowings from the revolving credit facilities	404,020			490,264
Payments of principal on mortgage	(8,827		)	(7,554		)
Payments on capital lease obligations	(1,732		)	(1,152		)
Increase (decrease) in bank overdrafts	195			(14,921		)
Decrease in restricted cash related to the mortgage	(4,044		)	(8,970		)
Debt issuance costs	(201		)	(2,893		)
Proceeds from (payments on) stock offering, less expenses paid	(98		)	38,715
Net cash provided by financing activities	50,809			68,407
Increase in cash	2,805			1,681
Balance, beginning of period	5,034			5,188
Balance, end of period	$	7,839		$	6,869

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BLUELINX HOLDINGS INC.

RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP ADJUSTED EBITDA

(In thousands)

(unaudited)

	Fiscal   Q3 2014			Fiscal   Q3 2013			Fiscal   2014 YTD			Fiscal   2013 YTD
GAAP net income (loss)	$	(860	)	$	(3,206	)	$	(6,231	)	$	(38,161	)
Adjustments:
Depreciation and amortization	2,403			2,144			7,176			6,547
Interest expense	6,777			6,918			20,090			21,026
Provision for (benefit from) income taxes	(69		)	(636		)	(65		)	(714		)
Loss from closed distribution centers	—			1,898			—			3,689
Gain from the sale of properties	—			(3,679		)	(5,251		)	(3,908		)
Share-based compensation expense, excluding restructuring	444			985			1,771			2,923
Restructuring, severance, debt fees, and other	2,412			2,758			5,234			10,956
Adjusted EBITDA same center	11,107			7,182			22,724			2,358

BLUELINX HOLDINGS INC.

COMPARABLE SAME CENTER SCHEDULE

(In thousands)

(unaudited)

	Fiscal   Q3 2014			Fiscal   Q3 2013		Fiscal   2014 YTD			Fiscal   2013 YTD
Net sales	$	549,845		$	557,952	$	1,525,283		$	1,665,697
Less: closed centers	—			22,422		—			85,578
Same center net sales	549,845			535,530		1,525,283			1,580,119
Actual year-over-year percentage increase (decrease)	(1.5		)%			(8.4		)%
Same center year-over-year percentage increase (decrease)	2.7		%			(3.5		)%
Gross profit	$	64,580		$	62,492	$	179,289		$	174,134
Less: closed centers	—			859		—			7,294
Same center gross profit	64,580			61,633		179,289			166,840
Total operating expenses	$	58,539		$	59,399	$	165,182		$	191,731
Less: closed centers	—			2,757		—			10,983
Same center operating expenses	58,539			56,642		165,182			180,748
Operating income (loss)	$	6,041		$	3,093	$	14,107		$	(17,597	)
Add back loss from closed centers	—			1,898		—			3,689
Same center operating income (loss)	$	6,041		$	4,991	$	14,107		$	(13,908	)

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EX-99.2

BlueLinx Quarterly Review 3rd Quarter 2014

2 Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our management that, although believed by us to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things: changes in the prices, supply, and/or demand for products which we distribute; general economic and business conditions in the United States; the activities of competitors; changes in significant operating expenses; changes in the availability of capital and interest rates; adverse weather patterns or conditions; acts of cyber intrusion; variations in the performance of the financial markets, including the credit markets; and other factors described in the "Risk Factors" section in our Annual Report on Form 10-K for the fiscal year ended January 4, 2014, and in our other periodic reports filed with the SEC. In addition, the statements in this presentation are made as of November 6, 2014. We undertake no obligation to update any of the forward-looking statements made herein, whether as a result of new information, future events, changes in expectation or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to November 6, 2014. Use of Non-GAAP and Adjusted Financial Information - To supplement GAAP financial information, we use adjusted measures of operating results which are non-GAAP measures. This non-GAAP adjusted financial information is provided as additional information for investors. These adjusted results exclude certain costs, expenses, gains and losses, and we believe their exclusion can enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of our operating performance by excluding non-recurring, infrequent or other non-cash charges that are not believed to be material to the ongoing performance of our business. The presentation of this additional information is not meant to be considered in isolation or as a substitute for GAAP measures of net earnings, diluted earnings per share or net cash provided by (used in) operating activities prepared in accordance with generally accepted accounting principles in the United States. BlueLinx Holdings Inc.

3 Mitch Lewis Chief Executive Officer

4 Executive Summary – Fiscal Third Quarter 2014 • Adjusted EBITDA was $11.1 million for the third quarter 2014 ◦ Improvement of $3.9 million over the year ago period ◦ Best quarterly Adjusted EBITDA since 2008 • YTD Adjusted EBITDA of $22.7 million compared to 2013 YTD Adjusted EBITDA of $2.3 million • Fifth consecutive year-over-year quarterly Adjusted EBITDA improvement • Same center sales of $549.8 million, a 3% increase over fiscal third quarter 2013 • Gross margin of 11.7%, 50 bps higher than fiscal third quarter 2013 of 11.2% • Excess availability of $88 million as of October 4, 2014

5 Single-Family Housing Permits and Starts Single-family housing activity continued to recover during the third quarter Source: U.S. Census Bureau

6 Segment Price and Volume Fiscal Third Quarter 2014 Average selling price for our structural wood business was up 6.3% Volumes up in siding, specialty lumber Volumes down in lumber and plywood Same Center Revenues up $14.3M

7 Quarterly Same Center Revenues (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations. % by Product Vs. Year Ago • Specialty and structural product mix consistent YoY Same Center Revenues Up $14.3M or 3% ($ millions) Vs. Year Ago • Specialty sales up 6.2% • Structural sales down 1.7% 3Q '13 3Q '14 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14

8 Key Emphasis • Focus on opportunities in the local markets • Drive operational improvements across the organization • Supplier engagement to create mutual success • Continue margin enhancement activities • Closely manage working capital and liquidity Key Emphasis for BlueLinx

9 Susan O’Farrell Chief Financial Officer and Treasurer

10 Same Center - Revenue and Gross Profit • Same Center Revenue up $14.3 million, or 3%, from year ago period • Same Center Gross Profit of $64.6 million, up 5% from $61.6 million in fiscal third quarter 2013 (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations. Comparable Same Center in millions - unaudited (1) Fiscal Fiscal Fiscal Fiscal Q3 2014 Q3 2013 2014 YTD 2013 YTD Net Sales $ 549.8 $ 557.9 $ 1,525.3 $ 1,665.7 Less: closed centers — 22.4 — 85.6 Same center net sales 549.8 535.5 1,525.3 1,580.1 Actual year-over-year percentage increase (decrease) (1.4 )% (8.4 )% Same center year-over-year percentage increase (decrease) 2.7 % (3.5 )% Gross profit $ 64.6 $ 62.5 $ 179.3 $ 174.1 Less: closed centers — 0.9 — 7.3 Same center gross profit 64.6 61.6 179.3 166.8 Total operating expenses $ 58.5 $ 59.4 $ 165.2 $ 191.7 Less: closed centers — 2.8 — 11.0 Same center operating expenses 58.5 56.6 165.2 180.7 Operating income (loss) $ 6.0 $ 3.1 $ 14.1 $ (17.6 ) Add back loss from closed centers — 1.9 — 3.7 Same center operating income (loss) $ 6.0 $ 5.0 $ 14.1 $ (13.9 )

11 GAAP Net Income (Loss) & Adjusted EBITDA Adjusted EBITDA $ in millions - unaudited (1) 2013 2014 Fiscal Fiscal Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 YTD 2014 YTD GAAP net income (loss) $(12.6) $(22.3) $(3.2) $(2.5) $(8.6) $3.2 $(0.9) $(38.2) $(6.3) Adjustments: Depreciation and amortization 2.2 2.2 2.1 2.6 2.3 2.4 2.4 6.5 7.1 Interest expense 7.2 6.9 6.9 7.0 6.5 6.9 6.8 21.0 20.2 Provision for (benefit from) income taxes 0.2 (0.3) (0.6) (8.3) 0.3 (0.3) (0.1) (0.7) (0.1) Loss from closed distribution centers 0.2 1.6 1.9 — — — — 3.7 — Gain from the sale of properties (0.2) — (3.7) (1.3) (0.2) (5.0) — (3.9) (5.2) Share-based compensation expense, excluding restructuring 0.8 1.1 1.0 0.4 0.7 0.6 0.5 2.9 1.8 Restructuring, severance, debt fees, and other 0.9 7.3 2.8 1.2 — 2.8 2.4 11.0 5.2 Adjusted EBITDA same center $(1.3) $(3.5) $7.2 $(0.9) $1.0 $10.6 $11.1 $2.3 $22.7 Add back loss week of December 29, 2013 — — — 1.1 — — — — — Comparable 13/52 week vs. 13/52 week $(1.3) $(3.5) $7.2 $0.2 $1.0 $10.6 $11.1 $2.3 $22.7 % Same center (0.3)% (0.6)% 1.3% (0.2)% 0.2% 2.0% 2.0% 0.1% 1.5% % Comparable 13/52 week vs. 13/52 week (0.3)% (0.6)% 1.3% —% 0.2% 2.0% 2.0% 0.1% 1.5% (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations. • Adjusted EBITDA $11.1 million, up from $7.2 million in fiscal third quarter last year • Net Loss ($0.9) million, improved from loss of ($3.2) million fiscal third quarter 2013

12 Cash Flows Year-to-Date Operating Cash Usage Improved $17.4 million ($70.8) ($53.4) Fiscal Fiscal Fiscal Fiscal Q3 2013 Q3 2014 2013 YTD 2014 YTD in millions - unaudited (1) Net cash (used in) provided by operating activities $ 62.9 $ 14.9 $ (70.8 ) $ (53.4 ) Net cash (used in) provided by investing activities 6.6 (0.5 ) 4.1 5.4 Net cash (used in) provided by financing activities (71.0 ) (14.2 ) 68.4 50.8 Increase (decrease) in cash (1.5 ) 0.1 1.7 2.8 Cash balance, beginning of period 8.4 7.7 5.2 5.0 Cash balance, end of period $ 6.9 $ 7.8 $ 6.9 $ 7.8 (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations.

13 Working Capital Working Capital in millions- unaudited (1) October 4, September 28, Change over 2014 2013 Prior Year Receivables $ 205.8 $ 207.9 $ (2.1 ) (1.0 )% Inventory 264.9 259.7 5.2 2.0 % Other current assets 32.9 36.6 (3.7 ) (10.1 )% Total current assets 503.6 504.2 (0.6 ) (0.1 )% Accounts payable 105.3 109.5 (4.2 ) (3.8 )% Bank overdrafts 19.6 20.5 (0.9 ) (4.4 )% Other current liabilities 93.1 81.4 11.7 14.4 % Total current liabilities 218.0 211.4 6.6 3.1 % Net working capital $ 285.6 $ 292.8 $ (7.2 ) (2.5 )% (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations. Working capital down 2.5% versus prior year due to the seasonal increase of current maturities of long-term debt

14 Debt • Asset Backed Revolving Credit Facilities ◦ $88 million excess availability as of October 4, 2014 ◦ $447.5 million U.S. facility with additional $75.0 million uncommitted accordion facility ◦ $20 million Tranche A loan ◦ $10 million Canadian facility with additional $5.0 million uncommitted accordion facility • Mortgage ◦ Value still available to unlock * Book value of the real estate $82.4 million as of October 4, 2014 * Appraisal value as of June 2006 of current properties of approximately $322 million * Outstanding mortgage $178.1 million as of October 4, 2014

15 TOPIC PAGE Profit and Loss Statement by Quarter 16 Same Center Sales and Adjusted EBITDA 17 Revenue and Unit Volume by Quarter 18 Gross Margin by Quarter 19 Reconciliation of Debt Principal Payable to Non-GAAP Net Debt 20 Structural Products Price Trends 21 Appendix

16 Profit and Loss Statement by Quarter Profit and Loss Statement $ in millions except per share amounts - unaudited (1) 2013 2014 Fiscal Fiscal Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 YTD 2014 YTD Net sales $ 503.2 $ 604.6 $ 557.9 $ 486.3 $ 443.9 $ 531.5 $ 549.8 $ 1,665.7 $ 1,525.2 Cost of sales 446.7 549.5 495.4 432.0 391.2 469.5 485.3 1,491.6 1,346.0 Gross profit 56.5 55.1 62.5 54.3 52.7 62.0 64.5 174.1 179.2 Gross margin % 11.2% 9.1% 11.2% 11.2% 11.9% 11.7% 11.7% 10.5% 11.8% Operating expenses: Selling, general, and administrative 59.4 68.5 57.3 55.5 52.0 49.9 56.1 185.2 158.0 Depreciation and amortization 2.2 2.2 2.1 2.6 2.4 2.4 2.4 6.5 7.2 Total operating expenses 61.6 70.7 59.4 58.1 54.4 52.3 58.5 191.7 165.2 Operating income (loss) (5.1 ) (15.6 ) 3.1 (3.8 ) (1.7 ) 9.7 6.0 (17.6 ) 14.0 Non-operating expenses (income): Interest expense 7.2 6.9 6.9 7.0 6.5 6.9 6.8 21.0 20.1 Other expense (income), net 0.1 0.1 — — 0.1 — 0.2 0.2 0.3 Income (loss) before provision for (benefit from) income taxes (12.4 ) (22.6 ) (3.8 ) (10.8 ) (8.3 ) 2.8 (1.0 ) (38.8 ) (6.4 ) Provision for (benefit from)income taxes 0.2 (0.3 ) (0.6 ) (8.3 ) 0.3 (0.3 ) (0.1 ) (0.7 ) (0.1 ) Net income (loss) $ (12.6 ) $ (22.3 ) $ (3.2 ) $ (2.5 ) $ (8.6 ) $ 3.1 $ (0.9 ) $ (38.1 ) $ (6.3 ) Diluted EPS $ (0.19 ) $ (0.26 ) $ (0.04 ) $ (0.03 ) $ (0.10 ) $ 0.04 $ (0.01 ) $ (0.48 ) $ (0.07 ) (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations.

17 Same Center Sales and Adjusted EBITDA Same Center Sales $ in millions - unaudited (1) 2013 2014 Fiscal Fiscal Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 YTD 2014 YTD Total net sales $ 503.2 $ 604.6 $ 557.9 $ 486.3 $ 443.9 $ 531.5 $ 549.8 $ 1,665.7 $ 1,525.2 Less: closed centers 29.5 33.7 22.4 — — — — 85.6 — Same center 473.7 570.9 535.5 486.3 443.9 531.5 549.8 1,580.1 1,525.2 Less week of December 29, 2013 — — — 19.2 — — — — — Comparable 13/52 week vs. 13/52 week $ 473.7 $ 570.9 $ 535.5 $ 467.1 $ 443.9 $ 531.5 $ 549.8 $ 1,580.1 $ 1,525.2 (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations. Adjusted EBITDA in millions - unaudited (1) Quarters Ended Nine Months Ended October 4, September 28, October 4, September 28, 2014 2013 2014 2013 GAAP net income (loss) $ (0.9 ) $ (3.2 ) $ (6.2 ) $ (38.2 ) Adjustments: Depreciation and amortization 2.4 2.1 7.2 6.5 Interest expense 6.8 6.9 20.1 21.0 Provision for (benefit from) income taxes (0.1 ) (0.6 ) (0.1 ) (0.7 ) Loss from closed distribution centers — 1.9 — 3.7 Gain from the sale of properties — (3.7 ) (5.3 ) (3.9 ) Share-based compensation expense, excluding restructuring 0.5 1.0 1.8 2.9 Restructuring, severance, debt fees, and other 2.4 2.8 5.2 11.0 Adjusted EBITDA same center $ 11.1 $ 7.2 $ 22.7 $ 2.3

18 Revenue and Unit Volume by Quarter Sales $ in millions - unaudited (1) 2013 2014 Fiscal Fiscal Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 YTD 2014 YTD Specialty $ 270.9 $ 333.5 $ 320.6 $ 274.9 $ 263.6 $ 316.1 $ 324.2 $ 925.0 $ 903.9 Structural 233.5 276.5 243.2 215.1 185.5 219.9 232.3 753.2 637.7 Other (2) (1.2 ) (5.4 ) (5.8 ) (3.7 ) (5.2 ) (4.5 ) (6.7 ) (12.4 ) (16.4 ) Total $ 503.2 $ 604.6 $ 558.0 $ 486.3 $ 443.9 $ 531.5 $ 549.8 $ 1,665.8 $ 1,525.2 Sales Mix % - unaudited (1) Specialty 53.7 % 54.7 % 56.9 % 56.1 % 58.7 % 59.0 % 58.3 % 55.1 % 58.6 % Structural 46.3 % 45.3 % 43.1 % 43.9 % 41.3 % 41.0 % 41.7 % 44.9 % 41.4 % Unit Volume Change - unaudited (1) (3) Specialty 1.5 % 7.8 % 10.6 % 14.0 % 1.0 % (1.2 )% 4.7 % 6.8 % 1.5 % Structural 3.0 % 13.5 % 18.1 % 14.4 % (9.5 )% (11.2 )% (7.5 )% 11.9 % (9.4 )% Total 2.1 % 10.1 % 13.7 % 14.2 % (3.8 )% (5.7 )% (0.6 )% 8.9 % (3.4 )% (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations. (2) Includes cash discounts, service revenue, Canadian conversion, and accruals. (3) 2014 reported on a same center basis.

19 Gross Margin by Quarter Gross Margin $ in millions - unaudited (1) 2013 2014 Fiscal Fiscal Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 YTD 2014 YTD Specialty $ 35.3 $ 44.6 $ 39.0 $ 35.7 $ 34.2 $ 43.7 $ 43.0 $ 118.9 $ 120.9 Structural 20.3 11.1 17.8 17.7 15.4 18.0 20.8 49.2 54.2 Other 0.9 (0.5 ) 5.7 0.9 3.1 0.3 0.8 6.1 4.2 Total $ 56.5 $ 55.2 $ 62.5 $ 54.3 $ 52.7 $ 62.0 $ 64.6 $ 174.2 $ 179.3 Gross Margin's % - unaudited (1) Specialty 13.0 % 13.4 % 12.2 % 13.0 % 13.0 % 13.8 % 13.3 % 12.9 % 13.4 % Structural 8.7 % 4.0 % 7.3 % 8.2 % 8.3 % 8.2 % 9.0 % 6.5 % 8.5 % Other n/a n/a n/a n/a n/a n/a n/a n/a n/a Total 11.2 % 9.1 % 11.2 % 11.2 % 11.9 % 11.7 % 11.7 % 10.5 % 11.8 % (1) Immaterial rounding adjustments and differences may exist between appendix slides, press releases, and previously issued presentations.

20 Reconciliation of Debt Principal Payable to Non-GAAP Net Debt Debt $ in millions - unaudited (1) Quarters Ended Quarters Ended March 30, June 29, September 28, January, 4 April 5, July 5, October 4, 2013 2013 2013 2013 2014 2014 2014 Revolving credit facilities $ 242.4 $ 300.0 $ 239.5 $ 211.2 $ 261.3 $ 284.7 $ 277.7 Mortgage 205.3 201.8 198.4 186.9 186.1 178.7 178.1 Total debt principal payable (GAAP) 447.7 501.8 437.9 398.1 447.4 463.4 455.8 Less: Cash and cash equivalents (5.3 ) (8.4 ) (6.9 ) (5.0 ) (7.6 ) (7.7 ) (7.8 ) Mortgage LCR trap (3.0 ) (2.8 ) (9.0 ) — (1.0 ) (1.0 ) (4.0 ) Net debt (Non-GAAP) $ 439.4 $ 490.6 $ 422.0 $ 393.1 $ 438.8 $ 454.7 $ 444.0 Excess Availability $ 125.5 $ 93.0 $ 92.5 $ 45.8 $ 89.3 $ 82.0 $ 87.9

21 Structural Products Price Trends

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