While still higher than the industry average, Fastenal's gross margin will be a big focus for the distributor in 2014.
Latest In Fastenal
Fastenal and United Natural Foods are taking changing costs into account.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Daily sales increased 7.7 percent on average.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
CEO: Several factors including competitive pricing pressure drove the decline.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
CEO: Company underinvested in supporting vending in 2013.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Fastenal CEO Will Oberton says data enables productive conversations that can save accounts.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Fastenal is largely credited with driving the latest boom in industrial vending services among distributors. Fastenal had nearly 30,000 vending machines installed as of the end of the second quarter 2013, and while it recently backed off on its goal of 30,000 new vending machines this year, it continues to expand its program, called FAST Solutions, at a quick clip. Fastenal’s vending program has grown much faster than the competition’s.
This article is part of MDM’s series on the industrial vending market.
Staff Writer Angela Poulson spoke with Fastenal CEO Will Oberton about:
- The impetus for Fastenal’s vending program
- Why Fastenal backed off its aggressive goal for 2013
- What's next for Fastenal's vending program
Subscribers should log-in below to read this article.
Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:
- Industrial Vending: A Runway for Growth
- Distributors Get Smarter About Vending
- The Counterfeit Challenge
Purchase the full MDM Special Report, The Industrial Vending Boom, in the MDM Store in PDF format.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Daily sales to manufacturing customers grew 4.7 percent.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Free vending machines are becoming the norm, but make sure the contract terms are clear.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Average daily sales increased 2.9 percent.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
But executives report some softness in the latest quarter for manufacturing customers.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
CEO: Fastenals 30,000-machine goal for 2013 was overzealous.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Growth for Fastenal was primarily due to strength with its industrial vending program.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Daily sales averaged $13.1 million for the month.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Daily sales increased 4.8 percent from year-ago levels.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
But management teams show cautious optimism.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Distributor outlines how it has improved gross margin performance over the past couple of quarters.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Sequestration had an impact on market, distributors say.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
The distributor installed 4,352 new industrial vending machines during the quarter.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
Daily sales increased 6.7 percent.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
