Yin will oversee business operations, expansion of the MRO market in China.
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Latest In Grainger
The changes – apparently coming soon – are part of Grainger’s overall investment in e-commerce, which is a fast-growing part of the distributor’s business.
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Grainger, Chicago, IL, reported daily sales results for the month of July 2009 declined 14% versus July 2008, primarily the result of weak demand across all customer end-markets and geographies. Foreign exchange negatively affected sales by approximately one percentage point.
U.S. sales were down 14%; Canadian sales were down 19% (down 10% in local currency). Sales from Other Businesses were up …
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W.W. Grainger, Chicago, IL, reported second quarter sales of $1.5 billion, down 13% from the second quarter 2008. Profit for the quarter fell 18% to $92 million.
"Although the economy remains a challenge, we are pleased with our results for the second quarter of 2009. We continue to focus on the things we can control, and we’re selectively investing for growth. Businesses and institutions still need to repair and maintain their facilities in this difficult economy. Our multi-channel business model and our exceptionally high service levels allow us to serve our customers well even in these tough times," said Jim Ryan, Grainger’s CEO.
Ryan added Grainger has not seen "an indication of an economic turnaround at this point."
Daily sales decreased 15% in April, 10% in May and 13% in …
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Even as some companies are pulling back in response to current economic conditions, Grainger has taken a different tack: aggressively pursue market share. At the William Blair & Company Growth Stock Conferencein June, Grainger CEO Jim Ryan laid out Grainger’s plan to gain market share in the highly fragmented MRO market.
Focus on service is essential to gaining and keeping market share, Ryan says. For Grainger, this includes expanding its network of distribution centers in North America, adding square feet in existing and new branches, and investing in its IT network.
"Our IT network and phone systems are integrated across the network, meaning we can respond more efficiently to customer needs," Ryan says. For example, during the H1N1 flu outbreak in Mexico, Grainger was able to …
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Chicago, IL-based Grainger, broad line distributor of facilities maintenance products, said it plans to become a 53% majority owner of MonotaRO, a direct marketer of MRO supplies in Japan. Grainger expects to invest $4 million through a tender offer bid process later this summer.
MonotaRO started as a joint venture between Grainger and Sumitomo Corp. in 2000. The business offers more than 110,000 products to more than 320,000 customers. In 2008, MonotaRO had revenues of $136 million and operating earnings of $11 million.
Grainger CEO Jim Ryan says that Grainger estimates the Japanese MRO market at $50 billion. "This increased investment, along with our recent acquisition of Asia Pacific …
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Grainger, Chicago, IL, reported daily sales in May 2009 declined 10% versus May 2008, primarily the result of weak demand across all customer end-markets and geographies. Foreign exchange negatively affected sales by approximately two percentage points.
Sales from pandemic related product as a result of the H1N1 virus outbreak positively affected sales by one percentage point.
U.S. sales were down 9%; Canadian sales were down 14% (down 1% in local currency). Sales from Other Businesses were down …
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Chicago, IL-based Grainger, broad line distributor of facilities maintenance products, has agreed to acquire full ownership of its joint venture in India, Asia Pacific Brands India Private Limited, an industrial and electrical wholesaler-distributor. Grainger is paying $1.2 million.
"We are excited about growing our business in India," said Grainger’s CEO Jim Ryan. "As that economy gets more competitive, Indian companies want efficient and reliable ways to get the quality products they need to keep their facilities running and their employees safe. With annual revenues of approximately $30 million, Asia Pacific will provide us a starting position in a large, high-potential MRO market."
Late last year, the company wrote down its investment in …
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Grainger, Chicago, IL, reported sales in April 2009 declined 15% versus April 2008, primarily the result of weak demand across all customer end-markets and geographies.
Foreign exchange negatively affected sales by 2 percentage points.
U.S. segment sales were down 14%; Canadian sales were down 26% (down 11% in local currency). Other business sales were down …
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Grainger, Lake Forest, IL, a distributor of facilities maintenance supplies, will host green educational events to honor Earth Day in 25 markets across the country focused on helping businesses and institutions garner the knowledge and tools needed to maintain and operate more sustainable and energy-efficient facilities. The educational events are in conjunction with the launch of an online green product catalog that provides customers easy access to more than 3,300 environmentally responsible products.
“Businesses are looking to navigate the many definitions of “green” to ultimately find ways to maintain and operate their facilities more efficiently and cost-effectively, without taxing our environmental resources,” said Deb Oler, …
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Grainger, Chicago, IL, reported first quarter sales of $1.5 billion, down 12% from first quarter 2008. Profit decreased 16% to $96 million.
As part of cost reduction plans announced in February, the company reduced headcount by 200 employees and incurred severance expense of $5 million in the first quarter. The company is on track to meet headcount reductions of 300-400 this year.
"Businesses and institutions have responded to the recession by buying less and looking for ways to improve productivity. We are in a great position to help our customers become more efficient by consolidating their supplier base using our expanded product line especially in these challenging times," said Jim Ryan, president and CEO. "We do not believe that we’ve seen …
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Grainger continues to strengthen its global operations; recently it tapped Acklands-Grainger President Court Carruthers to a newly created post, president of international businesses. As part of that, Grainger also recently named D.G. Macpherson to oversee Grainger’s global supply chain operations.
In this interview with MDM, Carruthers talks about Grainger’s plans globally, business improvements at Acklands-Grainger, and how the distributor views talent recruitment and retention. Carruthers has been with Grainger in Canada since the summer of 2002. He has been the president of Acklands-Grainger there since the end of 2006.
MDM: Why did Grainger put this position in place? What are your goals in this new role?
Court …
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Chicago, IL-based Grainger, facilities maintenance distributor, reported daily sales in February 2009 fell 10% versus February 2008, the result of weak demand across all customer end-markets and geographies.
Foreign exchange negatively affected sales by 2 percentage points.
U.S. branched-based operations were down 9%; Acklands-Grainger in Canada was down 19% (but up 1% in local currency); and Lab Safety Supply was down 4%.
Grainger had 2008 sales of $6.9 …
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Chicago-based facilities maintenance distributor Grainger won’t be slowing its product expansion anytime soon. According to Fred Costello, vice president-product management, the strategy is a priority going forward.
This year, Grainger’s catalog is 64,000 SKUs thicker, or 33% larger than last year’s. Grainger now has 240,000 SKUs available in print, and 300,000 on its Web site. The goal of the product expansion is to fill gaps in its already broad offering and reach out to new customers, in an effort to become a "one-stop shop," Costello tells me.
MDM Publisher Tom Gale recently wrote in the Feb. 25 issue of MDM that Grainger has a history of building market share in downturns; Grainger’s …
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W.W. Grainger has increased the number of SKUs in its catalog 33 percent, year-over-year. The massive scale of Grainger’s product expansion over the past few years indicates a reorientation of Grainger’s traditional model.
Five years ago, Grainger invested in a multiyear branch expansion program in the top 25 major metro markets. The goal was more local sales people and larger, more merchandise-oriented branches. In 2003, the company set an aggressive 7-10 percent annual growth rate target, and this effort was the engine. The company saw an opportunity to take market share from competitors by increasing presence in local markets.
The effort was all about increasing customer service. The recent product expansion effort has come with an increased focus …
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Chicago, IL-based facilities maintenance distributor Grainger has added 64,000 products to its catalog, along with 27,000 more to its Web site. The additions to the company’s catalog are a 33 percent increase over last year’s 180,000. (Some products were also removed this year.)
Grainger now has 240,000 products in its catalog and 300,000 online.
In an interview with MDM, Fred Costello, vice president – product management, says Grainger will continue adding products over the next several years.
Every catalog will continue to see a similar increase, Costello says.
“Product line expansion is a Grainger priority. … I can say with confidence that our Canadian and Mexican business units are also …
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Chicago, IL-based Grainger, in its January sales results, reported that it would be cutting costs through a combination of reduced employee travel, eliminating merit increases for executives and salaried employees, not paying incentive bonuses for 2009 unless the company meets "aggressive sales targets," and not filling open positions.
The company is also reducing hours for part-time employees and eliminating 300-400 jobs across the company. Part of the job elimination is due to the merger of Lab Safety Supply and Grainger Industrial Supply, according to the distributor.
The announcement comes after the distributor reported that daily sales fell 9% in January from the January 2008, due to weakened demand across all customer end-markets and …
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Grainger, Chicago, IL-based distributor of facilities maintenance supplies, has released its 2009 catalog including nearly 240,000 maintenance, repair and operating products, 64,000 more than 2008.
The distributor added more than 8,000 items Electrical products; 15,000 Metalworking products, nearly doubling existing offerings, and 41,000 additional items across all other product categories, including HVAC, Fleet Maintenance and Material Handling.
Beyond the product expansion to the catalog, the company recently added 27,000 safety, material handling and other products to the company’s Web site, bringing the total products available online to more than 300,000.
Newly named Grainger spokesman Mike Rowe, creator, executive producer and host of …
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Industrial distributor Grainger, Chicago, IL, has named Court Carruthers to a newly created position as president of its international businesses in Canada, Mexico, and China. Carruthers’ new responsibilities include growing and improving Grainger’s international business operations, which had sales of more than $800 million in 2008.
Carruthers is currently president of Grainger’s Canadian subsidiary, Acklands-Grainger. He has been with Acklands-Grainger since …
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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 …
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