Grainger (NYSE: GWW), Chicago, reported first quarter sales of $3 billion, up 7.2% over the previous year’s first quarter. The company reported a profit of $173 million, down 31.6% over 2019. On a constant currency basis, daily sales were up 5.5%.
“During these challenging times, as an essential business, Grainger remains more committed than ever to achieving our purpose … to Keep the World Working. We are focused on serving our customers well, ensuring the safety and well-being of our team members, and maintaining a strong financial position to support us through this crisis. By supporting customers who are saving lives and keeping communities safe, we are demonstrating the power of our products and solutions, deep customers relationships, and exceptional customer experience. Our strategy matters even more today,” said DG Macpherson, chairman and CEO. “In the midst of the uncertainty, we delivered robust top-line growth, solid profitability, and continued to produce strong operating cash flow in the first quarter. We also bolstered our already solid financial position, maintaining our flexibility to continue making thoughtful investments for the future. We intend to persevere through this crisis and I am confident that we are well-positioned to come out stronger on the other side.”