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Fastenal’s August Sales Up 21%
Time:2022-09-16
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Sales to manufacturers soared, but growth in the construction sector edged down.

Fastenal on Wednesday reported August sales of nearly $645 million, an increase of more than 21% compared to the same month of 2021.

 

On a daily basis — with one fewer business day this August — sales were up just more than 16%, a decline from July’s 18% year-over-year daily sales growth.

 

The Minnesota fastener and industrial product distributor said sales increased across all product lines, end-markets and geographic regions.

 

Fastener sales climbed by nearly 20% on a per-day basis, followed by an 11% increase in safety products and a 14.5% jump in all other categories. Sales to manufacturers soared 23.5% last month, while sales in its non-residential construction segment saw growth slip again to 5.8%.

 

Fastenal’s U.S. sales increased by 16.5% per day in the U.S., 17.5% in Canada and Mexico, and 1.5% in all other countries.

 

The company said its overall workforce stands at over 19,700 full-time employees, an increase of more than 8% over the end of August 2021.

 

Source: Industrial Distribution

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