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Despite just 2.5% sales growth in the third quarter, Fastenal is poised to take market share in industrial distribution, according to one analyst. See what the distributor has working in its favor.
Industrial distributor Fastenal saw its sales mix continue to return to normal in August, and the company again reduced its total workforce, this time by 7.5%, which is part of a larger industry trend toward omnichannel selling.
But industrial distributor also sees headcount continue to decline and the number of “selling personnel” is down nearly 10% compared to the same time last year.
Grainger’s sales dipped 2% last quarter as pandemic-related sales (e.g., PPE) again offset softness in its traditional product line, but non-pandemic sales are showing signs of life.