2/4/2016 5:03:00 PM
NEWS BRIEFS
Fastener Sales Rebound at Fastenal
Fastenal Co. reported daily fastener sales improved from -6% in the final quarter of 2015 to -0.4% in January 2016. Fastener sales were up 9.4% in the first month of 2015.
For 2015, the company’s fastener product line saw sales decline 1.4%, compared to sales growth of 6.9% the previous year.
Overall Fastenal sales declined 1.6% to $308.3 million in January 2016. Daily sales improved 3.3% to $15.42 million. Daily sales growth by product lines other than fasteners gained 6.5%.
Sales to manufacturing customers increased 1.9%, while sales to non-residential construction customers improved 1.2%.
In the first month of 2016, Fastenal opened 9 new stores, compared to none in the first month of the previous year.
During January the company’s overall headcount rose 11.4% to 20,745 employees, which included a 17.6% jump in non-store selling personnel, a 9.4% gain in distribution personnel, and a 3.3% increase in manufacturing personnel.
Those results included employees from Fasteners Inc., which Fastenal acquired on October 31, 2015. Fasteners, Inc. was founded in Spokane, WA, in 1961. The business included 13 stores and 2015 revenues of approximately $36 million. Web: fastenal.com
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