CHICAGO (AP) — W.W. Grainger Inc., a supplier of power tools and other industrial equipment, says sales rose 11 percent in July as it benefited from higher prices, volumes and acquisitions.
The Chicago company said Friday that about 5 percent of the sales growth came from acquisitions. Unfavorable exchange rates lowered sales by 2 percentage points.
Organic daily sales — those from existing rather than newly acquired or sold businesses — rose 8 percent on higher sales and volumes compared with a year earlier, Grainger said.
It said U.S. sales increased 6 percent. Canadian sales were up 10 percent, or 16 percent when measured in local currency.
Sales at the company's other businesses jumped 71 percent. Excluding acquisitions in Europe and Brazil, those sales rose 17 percent.
Shares of Grainger fell $4.21, or 2.1 percent, to $200.30 in midday trading. In the past 52 weeks, its stock price has ranged between $125.82 and $221.84 per share.