11/13/2015
NEWS BRIEFS
Grainger reported daily sales declined 1% in October of 2015. The sales performance included 4 percentage points from Cromwell Group (Holdings) Limited, acquired September 1, 2015, and a 3 percentage point reduction from foreign exchange. Excluding acquisitions and foreign exchange, organic daily sales declined 2%, driven by a 1 percentage point decline in price and a 1 percentage point decline from lower sales of safety products.
During Q3, Grainger sales declined 1% to $2.5 billion, with net earnings down 17% to $192 million and EPS dropping 12% to $2.92.
Grainger’s gross profit margin declined 1.1 percentage point to 41.9% versus 43% in the 2014 third quarter, due primarily to faster growth with lower gross margin customers, lower supplier rebates tied to lower-than-expected volume and price deflation versus slight cost inflation.
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Related Links:
• Grainger
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