3/4/2015 4:00:00 PM
NEWS BRIEFS
Harsh Weather & Energy Sector Declines Hurt Fastenal Sales

Fastenal Co. reported net sales rose 8.6% to $298.2 million in February, with daily sales up 8.6% to $14.91 million during the month.

Daily sales to manufacturing customers increased 6.4% to during February, while sales to non-residential construction customers grew at an equal pace.

“Our February 2015 sales were impacted by several factors,” the company noted. “The increasing value of the U.S. dollar lowered our daily sales growth by 1.0%, this was primarily related to Canada. The sharp drop of investment in the oil and gas industry lowered our daily sales by approximately 2.5%.

“Finally, harsh weather lowered our February 2015 and 2014 sales by approximately 2.0% in each year.”

The company’s workforce grew 6.6% to 18,954 employees in February, driven by a 6.2% increase in non-store selling personnel, a 7.3% increase in distribution personnel, and a 5.5% increase in non-selling personnel.

Fastenal opened no new stores during the first two months of 2015, compared to three in the first two months of 2014.

Related Stories:

• Fastenal To Reshore Some Thailand-Produced Fasteners

• Fastenal OEM Sales Top 10% Growth

• Brighton-Best Acquiring EZ Sockets

Related Links:

• Fastenal Co.