Grainger's May Sales Rise 5%
Industrial parts supplier W.W. Grainger reported this morning that May sales blossomed, rising 5% from the year-ago period, as it enjoyed a three-percentage-point increase in volumes, two percentage points in pricing, and one percentage point from acquisitions. However, that was slightly offset by a one-percentage-point decline because of unfavorable foreign exchange fluctuations.
The number of selling days in May was the same as it was last year, or 22, and the number of selling days in the second quarter will be the same 64 days it had in 2012.
When broken down by geographic regions, the U.S. segment saw a 6% increase while Canada was up 1%, but it was helped along by a 2% increase in currency exchange rates. Asia, Europe, and Latin America were up 4% for the month but were bolstered by a 10% increase by currency changes.
Headquartered in Lake Forest, Ill., Grainger had $9 billion in revenues in 2012. It will be reporting second-quarter earnings on July 17 before the market opens.
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