6/3/2015 11:52:00 AM
NEWS BRIEFS
Fastenal Sales Growth Slows in May
Fastenal Co. reported net sales in May edged up 0.3% to $314.3 million, with daily sales gaining 5.3% to $15.7 million.
Daily sales to manufacturing customers grew 4.1% in May, while daily sales to non-residential construction customers increased 1%.
During May, Fastenal continued to boost its workforce. Total personnel rose 7.4% to 19,312, including an 5.2% increase in distribution personnel to 2,246 workers, a 3.9% increase in store personnel to 10,887 workers, and a 4% increase in selling personnel to 12,221.
Fastenal opened three new stores in May, bringing its total number of new store openings to five during 2015.
During May news broke that Fastenal had acquired Cardinal Fastener from Dokka Fasteners for an undisclosed sum.
The deal, which was completed in March, came weeks after Dokka parent company Würth announced that the Cardinal Fastener plant in Ohio, which opened in 1983 and was acquired by the Würth in 2011, would be closed and production shifted to Dokka Fasteners plant in Michigan.
Würth acquired Cardinal out of bankruptcy in 2011.
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