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Stock Market & Financial Investment News

News Breaks
December 26, 2012
17:24 EDTGWWGrainger confirms settlement of government contract dispute
Grainger announced it has settled its long-standing contract dispute with the federal government. As announced October 16, the discrepancy centered on disclosure language in the General Services Administration and United States Postal Service contracts, which were implemented more than 10 years ago. Grainger maintains it complied with the disclosure requirements and the contracts in all material respects, and the settlement does not contain any admission of wrongdoing by the company. The GSA and USPS remain long-standing and important Grainger customers. These contracts account for a portion of the company's overall government business, which represented 17% of its total U.S. 2011 revenue. As Grainger disclosed in October, it recorded a $70M pre-tax reserve for this settlement and established a separate pre-tax reserve to resolve tax, freight and miscellaneous billing issues with these two government customers.
News For GWW From The Last 14 Days
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September 12, 2014
08:23 EDTGWWGrainger says September sales-to-date 'running in line' with August growth
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08:02 EDTGWWGrainger reports August daily sales up 7%
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September 4, 2014
08:01 EDTGWWGrainger management to meet with UBS
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