Grainger's sales fall; CEO sees no indication of recovery

Published on .

Chicago—Grainger reported Wednesday that its second-quarter sales of $1.5 billion were down 13% from the year-earlier period. Net earnings fell 18% to $92 million.

"We have not seen an indication of an economic turnaround at this point, but our results indicate that we are gaining market share during this recession,” Grainger Chairman-CEO Jim Ryan said in a statement. "We are in a great position to grow when the economy eventually recovers.

“We're expanding our sales force to improve customer coverage. Also during the quarter, we announced two ways we'll expand our geographic coverage outside of North America by making small, additional investments in India and in Japan."

Most Popular
In this article: