It's a very narrow set of SKUs. The feedback is very, very good. The jet was the dream of Bill Lear and became a reality through Canadair. The oldest executive at W.W. Grainger, Inc. is Brian Anderson, 69, who is the Independent Director. That isn't the full story. So first off, can you explain Slide 14 in the deck a little bit more? Good morning. She has been with Grainger for 8 years in finance, pricing and sales leadership roles. On Slide '19, I just wanted to reiterate our earnings growth algorithm. But just what didn't go right there just from like a history lesson? And so I think what's going to happen is certain segments seem to turn on as we recover here and they don't all turn up once. You may begin. I will detail the pandemic mix more in a few slides. Cost management and the benefit of pandemic-related subsidies resulted in 315 basis points of SG&A leverage. And congratulations again, Dee. So let me give you some customer examples to give you a sense. So you might see a slight decline in overall GP and a slight decline in overall s G&A, given that, that business also has lower SG&A, but it should be fairly stable once we get through this. We restarted our share repurchase program in the fourth quarter and completed $500 million of repurchases in the period. As you know, the U.K. market was probably more impacted this year than some others. Thanks, Irene. Yes. Similar to the last few quarters, we want to continue providing some insights into how we're thinking about the current quarter's performance. that I would agree with that. I appreciate all of that. Since EMT is a highly complex, but also reversible event, epigenetic processes such as DNA methylation or chromatin alterations must be involved in its regulation So you do, as you grow, get fixed cost leverage with that investment in product SKUs. Thank you, Dee. What is the salary of Mr Macpherson? . Yes. Yes. Donald G. Macpherson is on the board of International Paper Co., Acklands - Grainger, Inc., American Red Cross of Greater Chicago and Grainger Global Online Business Ltd. and Chairman & Chief Executive Officer for W.W. Grainger, Inc. Mr. Macpherson previously occupied the position of Operations Manager at Rain Bird Sprinkler Manufacturing Corp. . So Dee, do you want to provide a little bit of color? Similar to our pandemic/non-pandemic sales chart, you can see the quarter-to-quarter sales spikes from pandemic-related products, most pronounced in the second quarter, which remained elevated through the year, and finished up $835 million or 54% in 2020. One is that in 2020, I think it's important to recognize that, particularly in the second quarter. For the company, we expect the U.S. business, the high-touch model, to have fairly consistent, if not, consistent margins, gross margins over time. I guess just what's baked into your assumption on medium customer growth within that gross margin sort of trajectory? But yes, that's generally the long-term framework. Moving forward, and it's been an all hands on deck effort. Although we are not providing 2021 guidance, I thought it might be helpful to provide some insights as to how a post-pandemic recovery could play out through the year. Clearly, much of the year has been shaped by the pandemic, but I'll also highlight our progress on key strategic initiatives. 2020 was obviously one of the most challenging and intense years in history. Key leadership challenge this year was balancing our pandemic response while continuing to build the company for the future. . Yes, sure. Roughly, the surge in pandemic had a modest impact. And we received that product in mostly Q3, I'd say. Related to gross profit margin, as product mix trends towards pre-pandemic levels, we would expect to see improved GP rates throughout the year. Please. Although the freight environment remains tight. I'll just close by reiterating: We're viewing the pandemic is a likely two year events, and we expect to gain a lot of share during those two years, and we expect to have very strong economics exiting out of that. Seltmann Weiden US Zone 1946 - 1949 mark. I'm sorry. Macpherson, 53, is chairman of the board and chief executive officer of W.W. Grainger, Inc., North America's leading broad line supplier of maintenance, repair and operating products, with operations primarily in North America, Japan and Europe. I guess my question is on 250 basis points of ramp from 4Q '20, do you expect it to be gradual like you're showing? Services W W Grainger, Inc. (GWW) CEO Donald Macpherson on Q3 2020 Results - Earnings Call Transcript Oct. 22, 2020 10:16 PM ET W.W. Grainger, Inc. (GWW) SA Transcripts 130.01K Follower s. At the start of the pandemic, we laid out 3 basic priorities: to serve our customers well, support our team members and ensure we remain strong financially. I'll close by discussing how we will resegment the business to more closely reflect how we think about the company, and we'll also touch on our high level opportunities and priorities for both the high-touch and endless assortment businesses. And I think we've also built some deep customer relationships through the pandemic. Donald Macpherson is 52, he's been the Chairman of the Board and Chief Executive Officer of W.W. Grainger since 2017. I think I'll turn it over to Dee in a minute. As it became clear that our business model will be resilient throughout the pandemic, we reverted from a temporary focus on cash preservation to our longer-term strategic priority of growing the business profitably. With this, we anticipate SG&A of between $730 million to $750 million for the first quarter of 2021. W.W. Grainger, Inc. (NYSE:GWW) Q4 2020 Earnings Conference Call February 3, 2021 11:00 AM ET. We will work to continue improving profitability through enhanced marketing efforts, we will further leverage analytics to refine our customer acquisition funnel and to improve customer repeat rates at Zoro. Garrett by trade is a personal finance freelance writer and journalist. Our next question comes from Patrick Baumann with JPMorgan. I'm excited that our new CFO, Dee Merriwether is here with me. Donald served as Senior Vice President and President, Global Supply Chain and Company Strategy at W.W Grainger. And lastly, we will continue to improve the path that we are on with our Canada operations as part of the North America Grainger business unit. And so every week that goes by, we learn more. That makes sense. FOLLOW changes in Donald G. Macpherson's employment. Mr. Macpherson has served Grainger in many capacities over his more than 10 years with the Company, including developing Company strategy, overseeing the launch of Grainger's U.S. endless assortment business, Zoro Tools, Inc., building the Company's supply chain . . Our next question comes from Deane Dray with RBC Capital Markets. First postwar porcelain pieces were produced in July 1945. W.w. Grainger Inc Yes, we expect it to go. In the second half of 2020, we started getting solid traction on price realization, which nearly offset continued cost headwinds as we exited the year. So we did not take a whole bunch of draconian actions. On Slide 14, we map out year-over-year sales growth in dollars. This includes $2,232,750 in annual compensation for his role as Chief Executive Officer of W.W. Grainger, $2,634,040 in restricted stock options and 2,099,570 in other compensation. Hes also previously acted as Operations Manager at Rain Bird Sprinkler Manufacturing Corp, and as a test engineer for the US Air Force. That is generally the right framework. Good morning. On March 9, we then plan to host a modeling call to help you fully understand the change and to answer any additional questions that you may have. Shifting gears, we continue to execute against our business priorities. MacPherson succeeded Jim Ryan in the role of Company Chairman. So even if there's some pressure with large customers, we expect growth of midsized customers to continue to exceed that. Part of the full story is we're also growing with existing customers and getting repeat buy, and that adds to some of the fixed cost leverage as well. The Canadian market has seen an overall economic slowdown during the pandemic, which has notably impacted our natural resource and export customers. And now, as they restart, there's a big burst of restocking that goes on. And then just kind of following up, could you provide some color or numbers around the margin difference between pandemic and the non-pandemic revenues? I think your outlook was more for a flat outcome. Mr. Macpherson has served Grainger in many capacities over his more than 10 years with the Company, including developing Company strategy, overseeing the launch of Grainger's U.S. endless assortment business, Zoro Tools, Inc., building the Company's supply chain . Because I would think in 2Q, you could see a bigger jump based on the comps. Thank you. I guess, D.G., I know we've gone over this territory before. Donald G. Macpherson is on the board of International Paper Co., Acklands - Grainger, Inc., American Red Cross of Greater Chicago and Grainger Global Online Business Ltd. and Chairman & Chief Executive Officer for W.W. Grainger, Inc. Mr. Macpherson previously occupied the position of Operations Manager at Rain Bird Sprinkler Manufacturing Corp. . Macpherson, Chairman and CEO; and Deidra Merriwether, Senior Vice President and CFO. So I think it's a really interesting question and one that is really hard. He joined Grainger in 2008 after working closely with Grainger for six years as a partner and managing director at The Boston Consulting Group, a global management consulting firm, where he was a member of the Industrial Goods Leadership Team. So it's a little early to understand sort of the long-term impacts of that. This morning's call will focus on adjusted results for the fourth quarter of 2020, which exclude restructuring and other items that are outlined in our earnings release. Good morning, and thank you for joining us. you'll be able to: Access over 2,000,000 executive and board member profiles. I'd say, yes. Beyond that, we anticipate executing a similar dividend and share repurchase strategy, putting between $600 million to $700 million to work on repurchases in 2021. The short answer is that the curve that we showed on I think on Slide 15 takes the account sort of what we think the risks are with any inventory. Including quarterly information for the 2020 period. But any color, just to give us a sense of what you're expecting that ramp looks like? And that coming out of the pandemic, I think we would look for a much more stable and potentially more accretive margins on the high-touch than what we've seen over the pandemic. served as Grainger's Chief Operating Officer, and prior to that, he was Senior Vice President and Group President, Global Supply Chain and International, where he led the development of corporate strategy and continuous improvement, the global supply chain organization, the company's . 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