Grainger reports January daily sales up 8% vs. a year ago Grainger reported sales results for the month of January 2013. Daily sales increased 8 percent versus January 2012, and included 3 percentage points from volume, 3 percentage points from price, 1 percentage point from sales of seasonal products and 1 percentage point from acquisitions. The month of January 2013 had 22 selling days versus 21 selling days in January 2012. The 2013 first quarter will have 63 selling days, one less than the 64 selling days in the 2012 first quarter.
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.