W.W. Grainger posts record year

By Staff -- Industrial Distribution, 3/1/1998

Chicago, Ill.--Despite sales that were hindered by last summer's UPS strike, revenues were up 17 percent to $4.14 billion in 1997 at W.W. Grainger, Inc., one of the nation's largest industrial distributors. The company's 1996 sales totaled $3.54 billion. For seven consecutive years, Grainger has been ranked No. 1 in Industrial Distribution's Top 100 report published each June.

Grainger's net earnings increased 11 percent to $231.8 million compared with net earnings of $208.5 million in 1996. The company also reported that earnings per share increased 12 percent to $4.54 for 1997, compared with $4.04 in 1996.

Grainger's 1996 acquisition of Canadian firm Acklands Ltd. -- which added 180 branches to the company's roster -- contributed to the increase. Results of Acklands' operations were included for one month of 1996 and all of 1997. Excluding the incremental sales of AGI, the company says overall sales increased 7.7 percent last year.

Grainger also notes that third-quarter sales were sharply affected by the United Parcel Service strike, which began on August 4, 1997 and lasted more than two weeks. The company estimates it lost approximately $14 million in sales because of the strike.

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