Along with reporting some soft financial results for Q3 2015, W.W. Grainger Inc., Lake Forest, Ill., announced today that it would be closing 26 branch locations. Grainger Chairman, President and Chief Executive Officer Jim Ryan said in the press release:
"Our results reflect the challenging industrial economy in North America. While we remain confident about our ability to gain market share, we are expecting continued revenue deceleration given recent feedback from our customers and suppliers. A number of large customers have announced layoffs, and there are indications of extended year-end holiday shutdowns. We have begun the process of aggressively adjusting our cost structure to reflect the weaker economic environment. At the same time, we are staying focused on providing industry-leading service, while making select investments that will accelerate our growth long term. These actions are especially important during an economic downturn and the subsequent recovery."