Fastenal May Daily Sales Slow, Trims Selling Headcount Further

The company posted continued daily sales growth in May, albeit slower than April's, while it has now reduced its total full-time headcount by 460 since the start of the year.

Id 17676 Fastenal 3

Winona, MN-based Fastenal — No. 12 on Industrial Distribution's Big 50 List — reported its May 2016 sales results on Monday, showing continued sequential growth, albeit slower than April.

The company posted May sales of $333.7 million, up 6.2 percent from a year earlier, while daily sales grew 1.1 percent. May 2016 had one more selling day than in 2015.

The 1.1 percent daily sales growth was a continued postitive for Fastenal, which had monthly sales growth declines each month of Q4, but was down from 3.8 percent growth in April.

Here's how the past 12 months of daily sales have looked for Fastenal:

  • May 2016: +1.1 percent
  • April 2016: +3.8 percent
  • March 2016: 0.0 percent
  • February 2016: +2.6 percent
  • January 2016: +3.3 percent
  • December 2015: -3.8 percent
  • November 2015: -1.1 percent
  • October 2015: -0.8 percent
  • September 2015: -0.3 percent
  • August 2015: +1.6 percent
  • July 2015: +3.2 percent
  • June 2015: +3.7 percent

Fastenal's May daily sales growth was 0.6 percent higher than April's. Since the start of 2016, Fastenal daily sales have growth 3.1 percent through May.

May's daily sales growth was posivitely impacted 0.7 percent by acquisitions, offsetting a negative 0.5 percent impact from currency headwinds.

Daily sales to manufacturing customers grew 0.6 percent and sales to non-residential construction customers fell by 1.8 percent.

Fastenal's fasteners business saw May sales decline 1.7 percent compared to a year ago, while all other sales grew 3.5 percent.

Fastenal's employee headcount at the end of May was 20,286, up 5.0 percent from a year earlier. However, the company has lowered its full-time employee count by 460 since the start of the year, including 386 selling personnel. It lowered its selling personnel headcount by 107 in May.

The company opened two new stores in May, bringing its year-to-date store openings to 23 and nationwide count to 2,632. Fastenal had only opened five new stores through May 2015.

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