wiredinUSA May 2014

INDEX

Fasteners up in first quarter

The number of stores open in the first quarter were up 0.9 percent year-over-year to 2,683. FAST Solutions machines – the distributor’s industrial vending initiative – were up 31.7 percent to 42,153 vending machines. Employee count was up 16 percent year-over-year to 17,788. According to the earnings news release, sales growth in the first quarter was primarily due to higher unit sales. Growth was impacted by slight inflationary price changes in non-fastener products and some price deflation in fastener products, with the result being a slight drag on growth, although daily sales for the first quarter grew 8.7 percent from the same period in 2013.

Fastenal Company of Winona, Minnesota, has reported first quarter sales of $876.5 million, an increase of 8.7 percent over the previous year. Net earnings were $111.9 million, up 2.6 percent from the same period in 2013.

wiredInUSA - May 2014

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