Fastenal Announces Plans to Open Up to 185 New Store Locations in 2003

Buried deep within its first-quarter 2003 financial statement were a few paragraphs outlining a major growth initiative underway at Fastenal Co., Winona, Minn.

The company had a strong first quarter, with sales rising 9.9 percent to $235.8 million and gross margins of 49.5 percent, compared to first-quarter 2002.

But the real story is in the company's 2003 expansion plans. During the first quarter of 2003, Fastenal opened 36 new sites, bringing its total number of sites to 1,2

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