Grainger (NYSE: GWW), Chicago, IL, reported sales for 2016 of $10.1 billion, up 2 percent compared to the prior year. Profit decreased 21.2 percent to $605.9 million.
Company sales in the fourth quarter were flat year-over-year at $2.5 billion. Profit decreased to $60.7 million from $145.2 million. On a daily basis, total company sales were up 1 percent for the quarter.
Sales in the United States segment declined 1 percent in the fourth quarter versus the prior year and were flat on a daily basis. The daily sales performance was composed of a 1 percentage point increase from higher intercompany sales to Zoro and 1 percentage point from the timing of the holidays, offset by a 1 percentage point decline from price and a 1 percentage point decline from volume. Government, retail and light manufacturing customers had the strongest sales performance in the quarter.
Sales in Canada declined 11 percent in U.S. dollars. On a daily basis, sales declined 9 percent in U.S. and local currency. The 9 percent daily sales decline consisted of a 7 percentage point decrease from volume and a 4 percentage point decrease from price, partially offset by a 1 percentage point contribution from higher sales of seasonal products and 1 percentage point from the timing of the holidays. Sales to all customer end markets were down versus the prior year.
Sales for the Other Businesses increased 11 percent for the 2016 fourth quarter versus the prior year and 13 percent on a daily basis, composed of volume and price. Sales growth in the Other Businesses was primarily driven by MonotaRO in Japan and Zoro in the United States.
