Grainger Lowers Revenue and Market-Growth Guidance
July 24 2019 - 9:13AM
Dow Jones News
By Dave Sebastian
W.W. Grainger Inc. (GWW) lowered its 2019 revenue guidance to
between 2% and 5% growth as it said it faces weaker demand and
performance at its Acklands-Grainger and Cromwell businesses.
The industrial-products distributor also lowered its estimate
for market growth to negative 1% to positive 2% from positive 1% to
4%.
The company on Wednesday posted higher profit along with higher
sales.
Grainger maintained its guidance ranges for gross profit margin,
operating margin and earnings per share.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 24, 2019 08:58 ET (12:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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