LAKE FOREST, IL — JanSan distributor W.W. Grainger posted a first-quarter net income decline of 16 percent, according to the Wall Street Journal.
Net income for the quarter was $96.4 million, down from $114.2 million in the year-ago quarter, the story stated.
W.W. Grainger President and Chief Executive Jim Ryan said: "We do not believe that we''ve seen the bottom to the sales decline and expect increased pricing pressure throughout the remainder of the year."
Total quarterly revenue fell 11 percent to $1.47 billion, narrowly missing analysts'' expectations of $1.49 billion, the story noted.
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