W.W. Grainger Inc., Lake Forest, Ill., reported 1Q 2013 sales of $2.3 billion, an increase of 4% over 1Q 2012. Net earnings for the quarter increased 13% percent to $212 million versus $188 million in 2012. The company raised its guidance for 2013 sales growth to 5%-9%, up from its previous guidance of 3%-9% 2013 annual sales growth.
Chairman, President and CEO Jim Ryan said in a press release on the financial results. “We are encouraged by the solid start to the year, despite facing difficult comparisons with 2012. Our continued strong performance puts us in a position to further accelerate our growth spending to extend our lead in the MRO industry. Over the balance of the year, we will invest in eCommerce, our sales force, our distribution center network and our enterprise systems that will provide value to our customers and help us gain additional market share longer term.” Details