Sales Climb For Grainger

Grainger had sales of $3.1 billion for the first quarter of 2021, up 2.8 per cent compared to the first quarter 2020. Gross margin for the quarter was 35.5 per cent, a 190 basis point decline over the prior-year quarter. The unfavourable variance was driven almost entirely by a pandemic-related inventory adjustment; absent this inventory adjustment, gross margin would have been nearly flat compared to the prior year. Operating earnings were $358 million, up 126 per cent versus the year-ago period and operating margin was 11.6 per cent, up 630 basis points.