Grainger posts Q3 drop

CHICAGO — Grainger reported Q3 sales of $2.5 billion, a 1% decline from the comparable period in 2014. Net earnings for the third quarter were down 17% to $192 million versus $230 million in 2014. Earnings per share of $2.92 declined 12% compared to $3.30 in 2014. Sales for its Canadian operations, Acklands-Grainger, declined 23% in U.S. dollars in the third quarter and declined 8% in local currency. The business in Canada continues to be affected by weak oil and gas prices and by lower commodity prices.