Fastenal Co. reported fastener sales increased 1.5% in February, marking the company’s first uptick in fastener sales since the third quarter of 2015.
During 2016, fastener sales at Fastenal declined 2.3%, while in 2015 fastener sales dropped 1.4%.
Overall February sales rose 1.1% to $324.8 million, which included daily sales growth of 6.1% to $16.2 million. Sales to manufacturing customers increased 6.3%, while sales to non-residential construction customers improved 6.2% during the month.
Employee headcount declined 4.4% to 19,782, which included an 5% drop in manufacturing personnel to 587 and a 1.6% decline in distribution personnel to 2,410.
Fastenal has opened four stores in 2016, bringing its total store count to 2,507.
In March Fastenal agreed to acquire industrial and fastener supply distributor Manufacturer’s Supply Company (Mansco) for an undisclosed sum.
Founded in 1928, Mansco is headquartered in Hudsonville, MI, with additional facilities in Madison, AL and McAllen, TX. Mansco generated approximately $50 million of revenue in 2016, largely from its flagship Michigan location. Web: fastenal.com
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