Fastenal Sales Fall 21.4% in 2Q
The Fastenal Company, Winona, MN, reported second quarter sales of $474.9 million, down 21.4% from sales in second quarter
2008. Profit decreased 42.8% to $43.5 million from second quarter 2008.
For the six months ended June 30, 2009,
sales were $964.2 million, down 17.6% from the same period a year ago. Profit declined 36.1% to $92.2 million.
In the first six months, Fastenal opened 42 new stores (compared with 112 new stores in the
prior-year period).
Since Dec. 31, 2008, Fastenal has decreased its work force by 1,164, or 8.5%.
The industrial production and non-residential construction businesses were the hardest hit segments.
The manufacturing segment - historically 45% to 50% - contracted approximately 28% in the second quarter
versus the prior year, primarily in the ...
The Fastenal Company, Winona, MN, reported second quarter sales of $474.9 million, down 21.4% from sales in second quarter
2008. Profit decreased 42.8% to $43.5 million from second quarter 2008.
For the six months ended June 30, 2009,
sales were $964.2 million, down 17.6% from the same period a year ago. Profit declined 36.1% to $92.2
million.
In the first six months, Fastenal opened 42 new stores (compared with 112 new stores
in the prior-year period).
Since Dec. 31, 2008, Fastenal has decreased its work force by 1,164,
or 8.5%.
The industrial production and non-residential construction businesses were the hardest
hit segments. The manufacturing segment - historically 45% to 50% - contracted approximately 28% in the second
quarter versus the prior year, primarily in the production business; non-residential construction - historically 20% to 25%
of sales - contracted 23%.
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