The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
Grainger approaches $2 billion in annual e-commerce sales
The web accounted for 25% of all sales in 2010.
Topics: 2010 earnings, 2010 financials, 2010 Grainger earnings, Grainger, Grainger earnings, Grainger financials, Q4 2010 earnings, Q4 2010 Grainger financials, Raymond James conference, Ron Jadin, Top 500, W.W. Grainger
Last year was a solid one online for W.W. Grainger Inc.
For the year ended Dec. 31, Grainger, No. 19 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 31.3% to $1.80 billion from $1.37 billion in 2009.
- Total sales rose year over year 16.1% to $7.2 billion from $6.2 billion.
- Net earnings increased 19.2% to $513.6 million from $430.8 million in 2009.
Internet Retailer calculates the web accounted for 25% of total sales compared with 22.1% in 2009.
“E-commerce is really powerful for us,” Grainger chief financial officer Ron Jadin told attendees during a presentation March 8 at the Raymond F. James Institutional Investors Conference in Florida. “It is highly profitable.”
Over the next several years Grainger will invest “tens of millions of dollars” in its e-commerce infrastructure, Jadin told attendees. “We have a great opportunity to make e-commerce even more relevant,” he said.
Grainger doesn’t break out quarterly web sales, but for the fourth quarter reported:
- Total sales rose year over year 12.5% to $1.8 billion from $1.6 billion.
- Net earnings increased 36.8% to $133.2 million from $97.4 million in Q4 2009.