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News Breaks | | | | December 26, 2012 | | 17:24 EDT |  | GWW | Grainger 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. | |
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News For GWW From The Last 14 Days Check below for free stories on GWW the last two weeks. |
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| May 13, 2013 | | 10:09 EDT |  | GWW | On The Fly: Analyst Upgrade Summary
 Subscribe for More Information | | | 08:56 EDT | | GWW | Grainger upgraded to Outperform from Market Perform at Raymond James
Subscribe for More Information | | | May 10, 2013 | | 08:01 EDT | | GWW | Grainger reports April daily sales up 8%
Grainger reported sales results for the month of April. Daily sales increased 8% versus April 2012, and included 3 percentage points from volume, 2 percentage points from price, 2 percentage points from acquisitions and 2 percentage points from the timing of the Easter holiday, partially offset by a 1 percentage point decline from foreign exchange. | |
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