Fastenal Daily Sales Rise Again
Fastenal's June daily sales rose 9.5% yoy down from May's 14.8% pace. Fasteners, the largest segment, fell 11.4% in June vs. a 15.3% drop in May. Safety equipment, the second largest segment, rose 94.9% vs. 136.3% in May.
The Company said, "...business activity appears to have bottomed in April before improving in May and again in June.". Regarding safety equipment sales, "...expect surge type orders to decline".
The stock continues to hover near all-time highs.