Fastenal reports sales and earnings surge
Sales and earnings at Winona, Minn.-based Fastenal reflect positive trends in the industrial segment of the U.S. hardware industry.
Fastenal, the specialty tools and fasteners dealer, reported fourth-quarter sales of $573.8 million, up 20.3% from fourth-quarter sales last year.
For the full year, the operator of some 2,500 stores posted sales of $2.269 billion, up 17.6% from a year ago.
Net earnings for the quarter increased 46.3% to $65.2 million. Net earnings for the full year increased 43.9% to $265.4 million.
Fastenal opened 37 stores during the fourth quarter, which ended Dec. 31.