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.
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.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at email@example.com.