Fastenal on Thursday reported higher November sales on a daily average basis, including a slight uptick in the company’s fastener sales.
The Minnesota distributor — no. 4 on ID’s 2024 Big 50 list — had posted slower fastener sales throughout the year amid a sluggish manufacturing environment, although stronger numbers in other categories overcame those declines.
The company saw $590.1 million in net sales last month, down 1.5% compared to the nearly $600 million in the same month last year — but the past month had one fewer selling day than November 2023. Fastenal’s average sales of $29.5 million per day were up 3.4% compared to last November’s daily average of $28.6 million.
Fastener sales were up 0.1% year-over-year on a daily average basis — the first monthly increase in that category in 2024 — while safety products rose by 5.5% and other categories climbed by 5.2%.
Fastenal also noted another decline in sales to the non-residential construction sector after finally reporting a year-over-year monthly increase in October. Sales to manufacturing end markets continued their growth, while the reseller market was off by more than 15%.
The company said that 59% of its top 100 national accounts grew last month, while nearly half of its in-market locations saw growth.
