) recently announced its monthly sales numbers for Feb 2013. The
company reported 3.1% year-over-year rise in net sales of $254.9
million for Feb 2013. The company reported 8.2% increase in daily
sales to $12.7 million.
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As Fastenal serves customers in the manufacturing and
non-residential construction markets, the company's net sales
benefited from an 8.2% increase in manufacturing customers and a
4.3% rise in non-residential construction customers. However,
foreign exchange dragged daily sales growth by 0.1% during Feb
Fastenal, which competes with
The Home Depot, Inc.
), has been witnessing some progress around its vending program,
FAST Solutions, and is fast accelerating its vending contract
signings and installations. Industrial vending remains one of the
primary growth drivers for Fastenal. The company's other growth
drivers like government business and metalworking are also
gaining traction and could help achieve profitability in 2013 and
However, Fastenal's daily sales growth rates have been declining
year over year for the past three quarters of 2012. Daily sales
growth rates dropped to 2.5% in the fourth quarter from 15%
growth in the first quarter 2012. The company has been witnessing
declining daily sales growth rates due to weakness in its
fastener product line.
A leading distributor/ retailer of industrial and construction
supplies, Fastenal carries a Zacks Rank #3 (Hold).
With the overall housing market improving steadily, there are
many companies currently performing well. These include
Travis Perkins plc
) with a Zacks Rank #1 (Strong Buy), and
Lumber Liquidators Holdings, Inc.
) with a Zacks Rank #2 (Buy).