Fastenal Company (NASDAQ: FAST) reported July 2022 sales were $554 million, a 12.5% increase from the same prior-year period. Fastener sales grew by 19.8%, Safety by 13.6% and Other Products by 18.9%.
Daily sales in the U.S. grew by 17.8%, sales in Canada and Mexico grew 23.3%, and sales in other global regions grew 9.1%. Manufacturing end-market sales rose by 22.7%, while nonresidential construction improved by 8.8%.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at firstname.lastname@example.org.