Grainger says daily May sales up 13 percent
ASSOCIATED PRESS June 11, 2012 8:42AM
Updated: June 11, 2012 12:06PM
W.W. Grainger Inc., a supplier of power tools and other industrial equipment, said Monday that its daily sales rose 13 percent in May, boosted by contributions from acquisitions.
Chicago-based Grainger said that about 5 percent of the sales growth came from acquisitions, while unfavorable exchange rates lowered its sales by 1 percentage point. Excluding acquisitions, daily sales rose 9 percent, boosted by both higher volumes and prices, the company said.
U.S. sales rose 8 percent, while sales in Canada increased 9 percent. Canadian sales were up 14 percent when measured in local currency.
Sales at the company’s other businesses jumped 86 percent. Excluding acquisitions in Europe and Brazil, those sales rose 22 percent.
May 2012 included 22 selling days, one more than May 2011, Grainger said.
Grainger sales rose 2 cents to $190 in premarket trading. They traded at a 52-week high of $221.84 in late March after sinking as low as $124.33 in early August 2011.