Fastenal Company, Winona, MN, reported sales for the year ended Dec. 31, 2008, were $2.34 billion, an increase of 13.5 percent from the prior year. Profit was up to $279.7 million, an increase of 20.2 percent.
While its annual numbers were strong, the distributor said in its earnings call that the fourth quarter slowed significantly.
In October, sales growth was at 11.9 percent; November was at 6.8 percent, and December saw no sales growth. CEO Willard Oberton said that December was the first time in Fastenal’s 42-year history that the distributor saw no growth year-over-year.
Looking forward into 2009, things are very slow, Oberton said. “It’s difficult out there. Right now, looking at our January sales numbers, we …
Fastenal Starts to See a Slowdown in the Fourth Quarter
Fastenal Company, Winona, MN, reported sales for the year ended Dec. 31, 2008, were $2.34 billion, an increase of 13.5 percent from the prior year. Profit was up to $279.7 million, an increase of 20.2 percent.
While its annual numbers were strong, the distributor said in its earnings call that the fourth quarter slowed significantly.
In October, sales growth was at 11.9 percent; November was at 6.8 percent, and December saw no sales growth. CEO Willard Oberton said that December was the first time in Fastenal’s 42-year history that the distributor saw no growth year-over-year.
Looking forward into 2009, things are very slow, Oberton said. “It’s difficult out there. Right now, looking at our January sales numbers, we …
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About the Author
Lindsay Young
Lindsay Young is the president of 3 Aspens Media, a B2B content strategy and marketing content firm that works with distributors to translate their offline expertise – online. She has more than 20 years of experience leading and producing online and print content for publications and businesses. She leads a team of 12 writers, client success managers, designers, marketing specialists and strategists to produce content that helps companies translate their benefits to key decision-makers. She was previously the editor of Modern Distribution Management.
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