5/11/2011 3:34:00 PM
NEWS BRIEFS
Grainger Sees Double-Digit Sales Increase
Grainger reported daily sales in April increased 14% versus April 2010.
Results for the month included a 1 percentage point positive contribution from acquisitions and a 1 percentage point contribution from foreign exchange.
Excluding acquisitions and foreign exchange, organic sales increased 12%, including 10 percentage points from volume and 2 percentage points from price.
By segment, April daily sales in the U.S. grew 10%; in Canada 22%; and other businesses 49%.
During the opening quarter of 2011, Grainger sales, including fasteners, grew 13% to $1.9 billion. Sales on a daily basis increased 11% due to an extra selling day in the period.
Q1 operating earnings gained 44% to $263 million, driven by higher gross profit margins and positive expense leverage. Net earnings jumped 59% to $158 million, while earnings per share increased 66% to $2.18 versus. ©2011 GlobalFastenerNews.com
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