W.W. Grainger Inc. GWW +0.60% said its fiscal second-quarter earnings fell about 5% on employee-related restructuring costs, though the bottom line beat Wall Street expectations.

The company reported a $10 million charge, or 15 cents a share, for changes to its retirement plan in Europe.

The company also narrowed its 2014 guidance, now expecting results to range from $12.20 to $12.60 per share from its previously issued outlook of $12.10 to $12.85 per share. It also now expects sales to grow 5% to 7% over the year, from 5% to 9% in previous guidance.

Chief Executive Jim Ryan said the results were buoyed by solid performance in U.S. operations, while "sluggish performance elsewhere dampened results," pointing specifically to a difficult market conditions in Canada.

Grainger, which offers goods including lighting and janitorial products, has seen its earnings rise in recent quarters on increased demand from businesses and institutions that are consolidating suppliers. The company, with a wide breadth of its offerings, is at times considered a bellwether for the national economic outlook.

More at source: Wall Street Journal

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