---
schema_version: "secwatch.filing_event.v1"
accession: "0000945114-23-000049"
form_type: "8-K"
ticker: "GIC"
cik: "0000945114"
company_name: "GLOBAL INDUSTRIAL Co"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:29:33.125910+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Global Industrial Q1 sales down 5.1%, EPS falls 38.6% to $0.35

## Summary
- Net sales $273.8M, down from $288.6M YoY; avg daily sales -3.7%.
- Operating income $17.8M (6.5% margin) vs $29.5M (10.2%) last year.
- Gross margin 35.9% vs 37.4% YoY; product margin improved on lower landing costs.
- Board declares $0.20/share dividend, payable May 22 to holders of record May 15.
- Cash $48.2M, no debt, $116.6M credit facility available; operating cash flow $28.5M.

## SEC filing metadata
- accession: 0000945114-23-000049
- form_type: 8-K
- ticker: GIC
- cik: 0000945114
- company_name: GLOBAL INDUSTRIAL Co
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/945114/000094511423000049/0000945114-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/945114/000094511423000049/gic-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000945114-23-000049
- JSON: https://secwatch.observer/filing/0000945114-23-000049.json
- Plain text: https://secwatch.observer/filing/0000945114-23-000049.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.