Fastenal on Tuesday reported a slight increase in its July daily sales numbers amid a jump in sales of its safety products.
The Minnesota-based distributor posted nearly $634 million in sales last month, according to its latest monthly disclosure. Although that total was up more than 10% from last July’s total, most of that increase was attributed to two additional selling days last month. On a daily average basis, sales climbed from $28.7 million up to $28.8 million — an increase of 0.5%.
Sales of Fastenal’s safety products rose by 7.5% on a daily basis last month, offsetting a 6.3% decline in fastener sales; sales of all other categories were up 1.6% year-over-year.
Fastenal’s daily sales fell by 1% and 4.6%, respectively, to heavy manufacturing and non-residential construction customers, while reseller sales dipped by nearly 15% year-over-year. Other manufacturing segments and end-markets, however, climbed by 4.5% and 5.4%.
The company’s U.S. sales, which accounted for more than 80% of its overall number, rose by just 0.1%. Sales were up by nearly 3% in Canada and Mexico and 0.3% in all other markets.
July’s report followed a 1.8% increase in second-quarter sales. Fastenal officials noted in mid-July that fastener prices during the latest reporting period had declined due to reduced transportation costs — and said that its fasteners were more likely to reflect sluggish industrial production numbers overall.
Fastenal ranked no. 5 on ID’s latest Big 50.
