Grainger (NYSE:GWW), Lake Forest, IL., reported sales for its fiscal 2022 second quarter were $3.8 billion, up 19.6% from the prior-year period.
Don’t miss any content from Distribution Strategy Group. Join our list.
Net profit for the quarter was $371 million, up 65%.
“Our second quarter results reflect the team’s continued commitment to serving customers extraordinarily well in this strong demand environment,” said CEO DG Macpherson. “After another quarter that exceeded expectations, we are increasing our 2022 outlook and remain well-positioned to deliver and exceptionally strong year.”
In the High-Touch Solutions N.A. segment, daily sales were up 22.2% from the same period a year ago in part due to strong price realization. In the Endless Assortment segment, daily sales were up 11.4%. Segment revenue growth continues to be driven by new customer acquisition at both Zoro and MonotaRO, and strong repeat and enterprise customer growth at MonotaRO.