Fastenal announces big 3Q increases in sales and earnings and 90 new branches
Fastenal Inc., Winona, Minn., announced double-digit increase in its third-quarter and year-to-date sales and earnings. The company's 3Q net sales increased 23.4 percent to $630.75 million and its 3Q earning increased 57.6% to $74.99 million. Year-to-date sales are up 16.7 percent over last year to $1.7 billion and year-to-date net earnings are up 43.2 percent to $200.2 million. During the first nine months of 2010, the company opened 90 new stores (compared to 45 new stores in the same period of 2009) and now has 2,459 branches. Details
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Jim Lucy Blog
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Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.