Grainger (NYSE: GWW), Chicago, reported 2019 sales of $11.5 billion, up 2.5% compared to 2018, and profit of $849 billion, up 8% compared with a year ago.
The distributor’s fourth-quarter sales rose 3% to $2.8 billion, and profit was $103 million.
“In 2019, we grew sales, operating earnings and EPS despite challenging and uncertain economic conditions. Our sales growth in the U.S. outperformed the market throughout the year, and our share gain accelerated in the fourth quarter, as our growth initiatives began to take hold. At our U.S. endless assortment business, Zoro, we continued to invest in the business to ensure ongoing success. At the total company level, our strong expense control held SG&A stable and enabled our advertising, technology and Zoro investments,” said DG Macpherson, chairman and CEO. “As we look to 2020, we will diligently manage expenses while continuing to invest in future growth. We are confident in our strategy and ability to execute moving forward.”
