As part of its ongoing commitment to return value to shareholders, L Brands, Inc. (NYSE:LB) announced today that its Board of Directors has authorized a new $250 million share repurchase program, which includes $10.3 million remaining under its previous $250 million share repurchase program.
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Grainger (NYSE: GWW) today reported results for the year ended Dec. 31, 2017. Sales of $10.4 billion were up 3 percent versus $10.1 billion in 2016. Reported net earnings of…
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Grainger reported results for the third quarter 2020 with sales of $3.0 billion, up 2.4% and up 4.6% on an organic daily basis compared to the third quarter 2019 driven by significant share gains in the U.S. segment and strong growth in the endless assortment businesses. Daily sales for the quarter increased 2.4% as compared to the 2019 third quarter. Organic daily sales, which exclude revenues from the divested Fabory and China businesses from the prior year results, increased 4.6% as compared to the 2019 third quarter. These sales increases were fueled by share gains in the U.S. segment and significant growth in the endless assortment businesses which more than offset declines in the Canada segment. Reported and adjusted gross profit margin for the third quarter of 2020 was 35.6%. This compares to reported and adjusted gross profit margin in the third quarter of 2019 of 37.3%. The unfavorable variance was driven by pandemic-related mix headwinds, particularly noticeable in our U.S. segment, and the continued business unit mix impact from the faster growth in our lower-margin endless assortment businesses.