Solid US growth for Grainger in Q3, but global demand weakens

Sales grew 4% to $2.9 billion in Q3 for US-headquartered Grainger Industrial Supply.

Grainger, owner of Fabory and tool suppliers Zoro and Cromwell Tools, noted – not for the first time this year – that demand is weakening on a global level.

“While the global demand environment continued to weaken, our US and endless assortment businesses gained share as we made solid progress on our key growth initiatives and were diligent in managing expenses,” said DG Macpherson, Chairman and CEO. “We remain confident in our ability to achieve results within our 2019 total company guidance ranges as provided in our second quarter earnings release.”

The US segment and endless assortment businesses grew 4.5% on a daily basis in Q3. Gross profits were 2% compared with Q3 2018.