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Fastenal Sales Jump More than 20% in May
Time:2022-06-08
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Strong growth in North America more than offset a decline in sales growth elsewhere.

 

Fastener and industrial supply giant Fastenal reported Monday that its sales jumped more than 20% last month amid strong growth in North America.

 

The Minnesota-based company said in its latest monthly disclosure that it recorded more than $589,000 in sales in May, up 23.5% compared to May of 2021. Last month included one additional sales day over 2021, but on a per-day basis, sales still increased more than 17%.

 

The company saw particularly strong growth in the U.S., where its sales increased more than 19% on a per-day basis. Sales in Canada and Mexico grew 14.7%, but outside North America, sales slid 5.8%.

 

Sales in the manufacturing sector were up 22.4%; the non-residential construction market saw 10.7% growth.

 

Fasteners led its product lines at 20% growth, followed by safety products at 15.6% growth. Fastenal’s sales of all other products climbed more than 16%.

 

Source: Industrial Distribution

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