Fastenal Sales Up Nearly 4% in November

Sales to manufacturers again offset a slide in the construction and reseller markets.

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Fastenal on Wednesday reported just shy of $600 million in sales during November, an increase of 3.8% compared to the same month last year.

The Minnesota fastener and industry supply distributor — no. 5 on ID’s 2023 Big 50 — once again saw gains in manufacturing end markets that were enough to overcome a drop in both the non-residential construction and reseller segments. Sales to heavy manufacturing customers climbed by 5.5%, while sales to other manufacturers rose by 3.2%; non-residential construction and reseller sales fell by 6.2% and 6.9%, respectively, while other markets increased by 12.5%.

Sales of the company’s fasteners slid by 3% last month, while safety product sales grew by nearly 11% and other categories increased by nearly 6%. Sales also increased in each of the company’s geographic categories, headlined by 3.1% growth in the U.S. and an 8.6% increase in Canada and Mexico.

Fastenal’s total workforce of 23,204 employees at the end of the month was up 3.7% compared to the end of November 2022.

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