11/5/2012 2:32:00 PM
NEWS BRIEFS
Manufacturer Sales Rise at Fastenal
Fastenal Co. reported sales increased 16.9% to $288.5 million in October, driven by a 9.1% rise in manufacturing customer sales. Non-residential construction customer sales grew 0.9%.
Daily sales gained 6.8% to $12.5 million, despite the effects of Hurricane Sandy, which the company estimates lowered its daily sales growth by 1.5 percentage points.
Fastenal opened no new stores during the month, reflecting in part its strategic shift toward its vending machine program to drive growth.
Overall employee headcount increased 2.4% to 15,451 workers during October. That figure included an 11% increase in non-store selling personnel; a 6% increase of its in-store salesforce; a 6% increase in distribution personnel; and a 4.7% rise in its manufacturing workforce. ©2012 GlobalFastenerNews.com
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