W. W. Grainger Inc., Lake Forest, Ill., reported that sales of $2.4 billion increased 5% versus $2.3 billion in results for 3Q 2012. For the nine months ended Sept. 30, sales of $7.1 billion increased 5% versus $6.7 billion in the nine months ended Sept. 30, 2012.
"Despite a challenging environment, our U.S. business delivered solid volume growth and earnings that were in line with our expectations," said chairman, president and CEO Jim Ryan. "Our businesses outside of the United States remain affected by weaker macroeconomic conditions and unfavorable foreign exchange rates. We are continuing to aggressively invest for the future with $135 million in incremental growth spending planned for 2013 designed to build additional scale and accelerate our market share gains. Given our commitment to our growth investments, coupled with the continuing headwinds of a softer global economy and stronger U.S. dollar, we are narrowing our guidance range for full year 2013."