W.W. Grainger sees 10 percent sales decrease
March 12, 2009
LAKE FOREST, IL — JanSan distributor W.W. Grainger reported a 10 percent decrease in sales for February when compared to the year-ago month, according to an Associated Press story hosted by Forbes.com.
Sales were hurt by about 2 percentage points due to declining foreign exchange rates, the story stated.
Sales were also affected because February 2009 had one less selling day than February 2008, the story noted.
The company expects severance charges of $15 million to $20 million from the layoff of about 400 employees to affect the fiscal first-half''s bottom line, the story added.
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