Grainger (GWW) Misses Q1 EPS by 1c; Trims FY15 Outlook

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Grainger (GWW) Approves $3B Buyback; Announces Changes to Capital Structure

April 16, 2015 7:16 AM EDT

Grainger (NYSE: GWW) announced that its Board of Directors has approved the purchase of $3 billion of its common stock over the next three years. The share repurchase will be financed with a combination of cash and the issuance of new, permanent debt. In addition, the Board increased the repurchase authorization to 15 million shares. This replaces a prior program of 10 million shares approved in April 2014.

"This program reflects our confidence in the business and future prospects of the company and better optimizes our... More