Grainger reports October sales results Daily sales increased 6% versus October 2011, and included 4 percentage points from price, 1 percentage point from volume and 1 percentage point from sales of hurricane-related products. The month of October had 23 selling days versus 21 selling days in October 2011. While the fourth quarter will have one extra selling day versus the 2011 fourth quarter, the company is forecasting minimal sales contribution due to timing of the holidays.
Grainger downgraded to Neutral from Outperform at Baird Baird downgraded Grainer to Neutral from Overweight as U.S. economic trends are progressively later-cycle, raising overall risk profiles for distributors with industrial exposure. Baird lowered its price target to $240 from $258 on Grainger shares.