Grainger sales climb 5.9% in fourth quarter
Grainger reported fourth quarter sales of $4.2 billion increased 5.9%, or 4.7% on a daily, organic constant currency basis versus the fourth quarter 2023.
For the full year, sales of $17.2 billion increased 4.2%, or 4.7% on a daily, organic constant currency basis compared to the prior year.
"Amidst a stable, yet muted demand environment throughout 2024, our team delivered strong performance by staying focused on what matters and delivering an outstanding customer experience," said said Chairman and CEO D.G. Macpherson. "Across both our High-Touch Solutions and Endless Assortment segments, we deepened our customer relationships and advanced our capabilities, all while delivering on our commitments to shareholders," "Looking to 2025, we remain committed to our purpose, We Keep the World Working, as we continue to provide exceptional service for our customers."
Revenue
For the fourth quarter 2024, total Company sales were up 5.9%, or up 4.2% on a daily basis compared to the fourth quarter 2023. Normalizing for the impact of foreign currency exchange and the divestiture of the Company's subsidiary, E & R Industrial Sales, Inc., sales on a daily, organic constant currency basis were up 4.7% versus the fourth quarter 2023.
In the High-Touch Solutions N.A. segment, sales were up 4.0%, or 3.0% on a daily, organic constant currency basis versus the fourth quarter 2023 driven by continued growth across all geographies. In the Endless Assortment segment, sales were up 15.1%, or 13.2% on a daily, constant currency basis versus the prior year quarter. Growth was driven by core B2B customers across the segment as well as enterprise customer growth at MonotaRO.
For the full year 2024, total company sales increased 4.2% versus the full year 2023. Daily sales on an organic, constant currency basis increased 4.7% versus the prior year driven by growth in both segments.
Gross Profit Margin
For the fourth quarter 2024, total company gross profit margin was 39.6%, up 50 basis points compared to the fourth quarter 2023.
In the High-Touch Solutions N.A. segment, gross margin increased 90 basis points compared to the fourth quarter 2023 driven by a lap of year-end inventory cost adjustments from the prior year period, as well as slight freight and mix favorability in the current year. In the Endless Assortment segment, gross margin declined by 10 basis points versus the fourth quarter 2023.
For the full year 2024, total company gross profit margin was 39.4%, flat versus the prior year as various factors offset.
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