July 19, 2017 / 3:45 PM / in 4 months

BUZZ-W.W. Grainger Inc: Shares sink after Q2 sales miss

** Industrial distributor’s shares fall as much as 7.2 pct hitting a near 6-year low at $161.90

** Q2 net income attributable to the company drops 43.3 pct, due to restructuring charges, Q2 revenue edges up 2 pct, missing estimates

** “...visibility on the 2018+ outlook remains low, likely to keep a lid on the stock,” JPMorgan analyst Patrick Baumann writes, adding that sales lift from pricing initiatives seemed to fade in the 2nd half of the quarter

** Company to shutter businesses in Colombia and Canada

** Peer Fastenal Co shares off 3.3 pct at $42.01

** Up to Tuesday’s close, GWW stock had fallen 24.9 pct YTD

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