9/16/2015
NEWS BRIEFS
Grainger Reports “Flat” Sales in August
Grainger reported sales, including fasteners, declined 2% in August.
Results for the month included a 3 percentage point decline from unfavorable foreign exchange and a 1 percentage point increase from acquisitions.
Sales were flat on an organic basis consisting of 1 percentage point from volume offset by a 1 percentage point decline in price.
U.S. sales were unchanged in August, while sales in Canada dropped 22% and and sales in Grainger’s Other Businesses segment gained 6%.
Grainger sales, including fasteners, increased 1% to $2.5 billion in the second quarter of 2015, with operating earnings growing 5% to $357 million and net earnings gaining 7% to $221 million.
Second-quarter sales for the U.S. segment increased 2% to $2.03 billion, driven by 2 percentage points from volume and 1 percentage point from increased sales to online business Zoro, partially offset by a 1 percentage point decline in price.
Q2 sales for Acklands-Grainger in Canada declined 9% in U.S. dollars to $239.5 million but were up 2% in local currency.
Q2 sales for the Other Businesses segment increased 7% to $318.9 million, consisting of 21 percentage points of growth from volume and price, partially offset by a 14 percentage points decline from foreign exchange. Operating earnings were $15 million.
Related Stories:
• Fastenal Sales Slow in August
Related Links:
• Grainger
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