 |
Lock in savings now before June 1 rate increase! |
 |
| We
Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
For the first nine months, sales were up 16.7 percent to $1.69 billion. Profit was $200 million.
In the first nine months of 2010, Fastenal opened 90 new stores, compared with 45 new stores in the same period in 2009. Overall, Fastenal has seen an increase of 3.8 percent in number of stores since Dec. 31, 2009.
There were 12,827 total employees as of Sept. 30, 2010, an increase of 6.5 percent from the 12,045 employees on Dec. 31, 2009.
Fastenal said the strengthening Canadian dollar (when compared with the U.S. dollar) and the acquisition of Holo-Krome in December 2009 boosted sales growth in the first nine months of 2010.
Fastenal also outlined its end-market performance in its third-quarter earnings release.
About 50 percent of its sales has historically been to customers in manufacturing. Daily sales to these customers grew about 15.7 percent, 29.8 percent, and 30.6 percent in the first, second, and third quarters of 2010, respectively. In the first, second, third, and fourth quarters of 2009, the daily sales of this business contracted. Sales to manufacturing customers contracted 18.8 percent from 2008 to 2009. The 2009 contraction was more severe in Fastenal's industrial production business and less severe in the maintenance portion of the manufacturing business.
Non-residential construction customers have historically represented 20 percent to 25 percent of its business. The daily sales of this business contracted 14.7% in the first quarter of 2010 and then grew 0.5 percent and 6.3 percent in the second and third quarters of 2010, respectively. In the first, second, third, and fourth quarters of 2009, the contraction was 6.4 percent, 19.6 percent, 25.3 percent, and 24.8 percent, respectively. Sales to non-residential construction customers contracted 19.4 percent from 2008 to 2009.
On a sequential basis, sales to manufacturing customers stabilized in May 2009 and then started to demonstrate patterns that resemble historical norms, according to Fastenal. This reversed the negative trend which began in October 2008. This stabilization and improvement was partially offset by continued deteriorization in non-residential construction business, which weakened dramatically in the first eight months of 2009, and then began to also demonstrate patterns that resemble historical norms.
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment