The Fastenal Company, Winona, MN, reported sales for the first quarter ended March 31, 2009, were $489.3 million, a decline of 13.6% from sales of $566.2 million in the first quarter 2008. Profits fell to $48.6 million, a decrease of 28.5%.
In the first quarter 2009, Fastenal opened 33 new stores (compared with 53 new stores in the prior-year period).
In stores opened greater than five years, sales fell 21.5% in March from March 2008. Sales fell 14.3% in February, and 12.4% in January.
Since Dec. 31, 2008, Fastenal has decreased its work force by 6.6%. According to the release, Fastenal "remains practical optimists and we always try to balance long-term opportunities for growth with the necessary short-term reactions to our current …
Fastenal Sales Fall 13.6% in First Quarter
The Fastenal Company, Winona, MN, reported sales for the first quarter ended March 31, 2009, were $489.3 million, a decline of 13.6% from sales of $566.2 million in the first quarter 2008. Profits fell to $48.6 million, a decrease of 28.5%.
In the first quarter 2009, Fastenal opened 33 new stores (compared with 53 new stores in the prior-year period).
In stores opened greater than five years, sales fell 21.5% in March from March 2008. Sales fell 14.3% in February, and 12.4% in January.
Since Dec. 31, 2008, Fastenal has decreased its work force by 6.6%. According to the release, Fastenal "remains practical optimists and we always try to balance long-term opportunities for growth with the necessary short-term reactions to our current …
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