Grainger sees steady Q1 sales

Grainger had sales of $4.2 billion for the first quarter of 2024, up 3.5 percent compared to sales of $4.1 billion in the first quarter of 2023. The company says results reflect a slow but steady demand environment. Daily sales in the High-Tough Solutions – N.A. segment were up 3.4 percent year over year with growth in all categories. Sales in the Endless Assortment segment were up 3.7 percent. The company had an overall gross profit margin of 39.4 percent for the first quarter, a 50-basis point decline compared to 39.9 percent in the first quarter of 2023. Net earnings were $478 million, down two percent compared to net earnings of $488 million in the prior-year period.