Safety products are bright spot in Fastenal's May sales
Fastenal reported May net sales of $6.6 million, a 1.5% increase over May 2023. Daily sales for the month were $2.9 million.
Daily sales improvement was led by markets outside North America with 4.8% growth, followed by the U.S. with 1.6% growth, and combined Canada/Mexico growth of 0.3%.
Safety remained the company's product line achieving highest top daily sales growth, with a 7.5 increase. Fastener sales dipped to negative 4.1%.
Fastenal's traditional end markets were underwhelming for May, with 1.5% growth in heavy manufacturing, 2.9% growth in other manufacturing, and declines of 6.2% and 6.9% in non-residential construction and reseller categories. Other end markets, however, spiked up 8.7%.
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about Singer Industrial. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Rachael Radford, as well as interviews with numerous product and distribution industry experts.
