6/14/2011 11:11:00 AM
HEADLINES
Grainger Reports Daily Sales for May
May Daily Sales by Segment 2011 v. 2010
United States +8%
Canada +24%
Other Businesses +39%
Grainger reported daily sales, including fasteners, increased 11% in May, boosted by 1 percentage point positive contribution from acquisitions and a 2 percentage point contribution from foreign exchange.
Sales in the U.S. gained 8% during the month, while sales in Canada grew 24%, which included a 15% gain in local currency.
Sales in other countries, which include Japan, Mexico, India, Puerto Rico, China, Colombia and Panama, combined for a 39% increase.
Excluding acquisitions and foreign exchange, organic sales increased 8 percent, including 7 percentage points from volume and 2 percentage points from price, partially offset by a 1 percentage point decline from oil spill related sales in 2010.
In 2010, Grainger provided safety and related products used to clean up the oil spill in the Gulf of Mexico, which contributed approximately 1 percentage point to total company sales for the year.
May 2011 had 21 selling days, one more than May 2010. The 2011 second quarter will have the same number of selling days as the 2010 second quarter (64 days).
In April Grainger reported daily sales increased 14%. Excluding acquisitions and foreign exchange, organic sales increased 12% in Q1, 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. ©2011 GlobalFastenerNews.com
Related Links:
• Grainger
Share: