Grainger sales up 4%
Grainger reported first quarter sales of $2.3 billion increased 4 percent versus $2.2 billion in the first quarter of 2012.
Net earnings for the quarter increased 13 percent to $212 million, or $2.94 per share, versus $188 million, or $2.57, in 2012.
"We are encouraged by the solid start to the year, despite facing difficult comparisons with 2012," said chairman, president and chief executive officer Jim Ryan. "Our continued strong performance puts us in a position to further accelerate our growth spending to extend our lead in the MRO industry. Over the balance of the year, we will invest in eCommerce, our sales force, our distribution center network and our enterprise systems that will provide value to our customers and help us gain additional market share longer term," Ryan added.
Sales for the United States segment increased 4 percent, 6 percent on a daily basis in the 2013 first quarter versus the prior year. The increase was led by solid growth in the light and heavy manufacturing, natural resources, commercial and contractor end markets.
Sales at Acklands-Grainger increased 4 percent, 5 percent on a daily basis. The increase in Canada was led by strong growth to customers in the construction, commercial, forestry, oil and gas and light manufacturing end markets.
Sales for the Other Businesses, which includes operations primarily in Asia, Europe and Latin America, increased 4 percent, 5 percent on a daily basis, for the 2013 first quarter versus the prior year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
