WW Grainger August sales rise 10 percent in August

WW Grainger posts 10 pct increase in August sales on acquisitions, higher volumes and prices

Associated Press

CHICAGO (AP) -- W.W. Grainger Inc., which sells power tools and other industrial equipment, said its sales rose 10 percent in August, boosted by contributions from acquisitions, higher sales volumes and price increases.

The Chicago company said that about 4 percent of the sale growth came from acquisitions. Unfavorable exchange rates reduced sales growth by 1 percentage point.

Organic sales, which exclude recent acquisitions, rose 7 percent, with four percentage points coming from higher volumes and 4 percent coming from higher prices. Those increases were partially offset by a 1 percentage point drop in lower sales of hurricane-related products compared with last year, the company said.

U.S. sales rose 4 percent, while Canadian sales increased 12 percent, or 13 percent excluding the effects of exchange rates.

Sales at the company's other businesses jumped 85 percent. Excluding acquisitions in Europe and Brazil, those sales rose 30 percent.

Grainger shares fell $3.38 to $203.40 in light premarket trading.

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