5/17/2010
HEADLINES
Stock Report: GRAINGER
Grainger reported sales declined 9% to $6.2 billion in 2009, while net earnings fell to $430 million and earnings per share dropped 6% to $5.62.
U.S. revenue decreased 10% to $5.4 billion in 2009, while operating income slipped 12.5% to $735 million.
Sales in Canada dropped 10.4% to $651 million, and earnings fell 19% to $43.7 million.
Grainger plans to open a 1 million sq ft distribution center in Minooka, IL, by 2012, with renovations slated to begin in 2010. The new facility is expected to house more than 450,000 industrial supply items, with a staff of 400 warehouse and logistics employees.
“Opening a new distribution center Southwest of Chicago will allow us to deliver more products next-day to our Midwest customers,” said Tommy Kersting, Grainger’s local distribution director.
At the end of November the Canadian division of Grainger acquired the assets of the K&D Pratt Industrial Division, with facilities in Darmouth, Nova Scotia; St. John’s, Newfoundland; and Saint John, New Brunswick.
In October 2009, Grainger paid an estimated $60 million for fasteners and trucking supply distributor Imperial Supplies, which has distribution centers in Green Bay; Charlotte, NC; Dallas, TX, and Reno, NV.
Grainger significantly expanded its fastener offerings in 2005, undertaking the biggest product expansion in its 78-year history by adding more than 25,000 fastener SKUs. Grainger’s 4,007-page catalog in 2006 featured 260 pages on fasteners.
Grainger supplies 1.8 million customers in the U.S. Canada, Mexico and China through more than 600 branches and 18 distribution centers.
Corporate Office: 100 Grainger Parkway, Lake Forest, IL 60045-5201. Tel: 847 535-1000
Web: grainger.com
CEO: James Ryan
Fastener executives: Rich Durante, GM of fastener distribution
Employees: 18,006
©2010 GlobalFastenerNews.com
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