8/13/2014 10:54:00 AM
NEWS BRIEFS
Grainger Sees Organic Sales Growth in July
Grainger reported sales in July increased 6% versus July 2013. Results for the month included 2 percentage points from acquisitions, net of dispositions, and a 1 percentage point decline from unfavorable foreign exchange.
Excluding acquisitions and foreign exchange, organic sales increased 5%, driven by 5 percentage points from volume and 1 percentage point from the favorable timing of the July 4th holiday in the U.S., partially offset by a 1 percentage point decline from lower sales of seasonal products.
Monthly sales in the U.S. gained 7%, while sales in Canada declined 1% and sales in the company’s Other Businesses segment – including results from Asia, Europe, and Latin America – rose 16% in July.
Grainger sales, including fasteners, increased 5% to $2.5 billion in the second quarter of 2014, including 4% organic growth. Q2 net earnings declined 5% to $206 million, while EPS decreased 3% to $2.94.
Q2 sales in the U.S. rose 7%, while sales in Canada dropped 9% on lower volume and Other Businesses segment sales gained 14%.
In the first six months of 2014 Grainger sales grew 5% to $4.9 billion, while net earnings fell 2% to $423 million and EPS increased 1% to $6. ©2014 GlobalFastenerNews.com
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Related Links:
• Grainger
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