W.W. GRAINGER, INC. Annual Report, Year Ended Dec 31, 2013

W.W. Grainger, Inc. (GWW) reported solid performance for the fiscal year ending December 30, 2013, with net sales increasing by 5.4% to $9.44 billion and net earnings attributable to the company rising by 15.5% to $797 million, or $11.13 per diluted share. This growth was primarily driven by the United States segment, which saw a 7% increase in net sales, supported by volume increases and strategic acquisitions. The company continued to invest in its multichannel strategy, emphasizing eCommerce growth, with Grainger.com revenues up 16% to $2.5 billion, and expanding its sales force to cater to diverse customer needs. Despite facing a challenging economic environment and competitive pressures, Grainger demonstrated resilience through effective cost management and strategic initiatives. The company made targeted acquisitions, including E&R Industrial Sales and Safety Solutions, to bolster its offerings, while also divesting non-core direct marketing brands. Grainger is also focused on supply chain enhancements, including the opening of a new highly automated distribution center in the Chicago area. Looking ahead, the company guided for continued sales and earnings growth in 2014, albeit with some downward revisions due to foreign exchange impacts and recent divestitures.