Gross margin slipped 80 bps to 42.2%.
Operating margin rate down 140 bps to 11%.
Q2 Guidance: Net sales: $781M to $798M; Average daily sales: decrease roughly 2.5%; Diluted EPS: $0.97 to $1.03.
Previously: MSC Industrial Direct EPS beats by $0.04, beats on revenue (Jan. 8)
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