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WW Grainger Feb. daily sales rise 6 percent
CHICAGO (AP) — W.W. Grainger Inc., which sells power tools and other industrial equipment, said Tuesday that its daily sales rose 6 percent in February.
The Chicago company said that 4 percentage points of the growth came from higher volumes, while 2 percentage points came from increased prices and 1 percentage point came from acquisitions. This was somewhat offset by foreign currency exchange rates.
Bill Chapman, senior director of investor relations, said in a recorded message that February is the toughest comparison of the year as the company reported an 18 percent increase in daily sales a year ago.
U.S. daily sales rose 7 percent. Canadian daily sales climbed 8 percent in local currency, while daily sales at its other businesses — which include Asia, Europe and Latin America — increased 13 percent.
There was one less selling day in the month compared with the prior-year period.
W.W. Grainger is expected to report its first-quarter financial results on April 16. Its stock fell $5.83, or 2.5 percent, to $224.74 in morning trading. Over the past year, the shares have traded between $172.50 and $233.95.
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