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.
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Grainger repeats forecast for FY13 EPS $11.30-$12.00, consensus $11.96 Sees FY13 sales $9.4B-$9.8B, consensus $9.6B. Sees 1/3 of operating cash flow invested in business and 2/3 returned to shareholders to 2013. Repeats forecast for 2013 growth program spending of about $160M. Information from slides for Electrical Products Group conference.
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