The company reported daily sales also up 2.6% versus a year ago based on strength in safety (38% growth).
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Bloggers answer distributor questions on how to manage COVID-19-induced business changes.
The safety category again stole the show for Fastenal Co. during its May sales report with a 136.3% increase, while the companys fastener business has likely hit the bottom during the COVID-19 disruption and could be on the upswing.
The company reported daily sales up 14.8% versus a year ago based on strength in safety.
A follow-up phone call to the industrial distributors mid-April 1Q report provides detail behind dramatic shifts in growth rate, with EVP and CFO Holden Lewis highlighting how the company is pivoting to meet changing customer demands.
The company reported daily sales of $21.8 million, up 4.3% versus a year ago.
Sales for the first nine months of the companys fiscal 2019 were up 8.7%.
June sales increased 1.9% over the year-ago period.
The company signed 5,603 industrial vending devices during the first quarter.
Fastener distributor reports strong start to 2019, as January sales reach $446.9 million.
Fourth-quarter sales reach $1.23 billion; profit rises 11 percent to $168.8 million.
Daily sales rise 12.4 percent, as manufacturing growth slows and construction remains steady.
Strong market demand drives distributors growth as quarterly sales hit $1.28 billion.