Grainger 3Q sales up 4 percent
Grainger reported sales of $2.9 billion in the third quarter increased 4 percent versus $2.8 billion in the 2018 third quarter.
On a daily basis, sales were up 2.5 percent. The third quarter had one more selling day than the prior year period. Foreign exchange had no impact on total company sales.
Net earnings of $233 million, or $4.25 per share, compared to $115 million, or $1.82 in the same period last year. Reported earnings in the 2018 third quarter included $143 million in restructuring and non-cash impairment charges, which were primarily related to the Cromwell business in the U.K.
"While the global demand environment continued to weaken, our U.S. and endless assortment businesses gained share as we made solid progress on our key growth initiatives and were diligent in managing expenses," said DG Macpherson, chairman and chief executive officer.
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.
