This excerpt taken from the GWW 8-K filed Aug 14, 2006.
EPS guidance includes market expansion real estate sales
As part of Graingers Market Expansion Program, the company closes or relocates branches including four in the second quarter of 2006. The company plans to sell up to eight branches, most in the southwest, during the rest of 2006. These are expected to result in a net gain, but Grainger is not able to predict with certainty either whether these sales might occur this year or the size of the gain. The estimated impact is already in the companys full year EPS guidance for 2006 of $4.00 to $4.15. Click here to view the most recent Market Expansion Update dated today.