Grainger Closed 98 Branches In 2017 While Volume Powered Sales & Profits Growth | Industrial Distribution

MRO products distribution giant Grainger — No. 2 on Industrial Distribution’s Big 50 List — reported its 2017 full year and fourth quarter financial results on Wednesday, which showed considerable gains in sales and profits compared to a year earlier while the company continued to slash its branch count.

Grainger’s strategic pricing initiatives that accelerated in the first half of 2017 led to a solid full-year sales increase that grew faster in Q4, while profits dipped for the full year but more than doubled year-over-year (YoY) in Q4.

“Overall we were pleased with the year,” Grainger chairman and CEO D.G. Macpherson said. “We made progress by removing the pricing barrier and improving service for customers while improving our cost structure. This continued in the fourth quarter with strong performance, as customers responded positively to our actions. We’re encouraged that we remain on track with our volume growth and expense management goals in an improving demand environment. In Canada, we are in the early stages of a business model reset and like the progress we are seeing. We remain focused in 2018 on providing the best experience and value for our customers.”

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Grainger Closed 98 Branches In 2017 While Volume Powered Sales & Profits Growth.