Fastenal reported fastener sales dropped 15.3% in May, compared with a 22.5% rate of decline the previous month.  Sales of other products (excluding safety supplies) fell 6%.

Overall sales rose 4.4% to $491.5 million in May, while daily sales climbed 14.8% to $24.7 million during the month.

U.S. sales gained 14.4%, while sales in Canada and Mexico fell 2.4%.

By end market, sales to manufacturing customers decreased 4.2%, and sales to non-residential construction customers were down 9.8% in May.

During May, Fastenal trimmed 400 sales staff, with most of those cuts in branch and onsite personnel.  The company’s overall workforce decreased 5.4% during the month to 21,034 employees.  Distribution personnel shrank 14.3%% to 2,478 while manufacturing personnel fell 9.8% to 625 workers. 

In the opening quarter of 2020, fastener sales declined 2.6% to $449.7 million (32.9% of overall sales).  Web: Fastenal.com