W.W. Grainger Inc., Chicago, IL, reported sales of $6.9 billion for the year ended Dec. 31, 2008, up 7% from 2007. Profit of $475 million was up 13%.
Grainger reported that it is somewhat below the low end of the range it provided in November for 2009 of -5% and +5%.
In the fourth quarter 2008, sales were $1.6 billion, a decrease of 1% from the 2007 fourth quarter.
Daily sales increased 4% in October, decreased 2% in November and decreased 5% in December. The 1% decline for the quarter included a 2 percentage point decline from foreign exchange, offset by a net 1 percentage point lift from price and volume. Profit in the fourth quarter was $108 million, up 3% versus $104 million in 2007. Included with profit was a $6 million write …
