The Fastenal Company (Nasdaq: FAST), Winona, MN, reported sales for 2011 of $2.8 billion, up 21.9 percent over sales in 2010. Profit increased 34.9 percent to $357.9 million.
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For the fourth quarter, sales were up 21.6 percent to $697.8 million. Profit increased 34.2 percent to $87.5 million.
Daily sales to manufacturing customers – approximately 50 percent of Fastenal’s business – grew 20 percent in 2011. Daily sales to non-residential construction customers – historically 20 to 25 percent of business – grew 17.1 percent for the year.
In 2011, Fastenal opened 122 new stores; the company opened 127 new stores in the same period of 2010. At year end, Fastenal had 2,585 stores.