The industrial distributor said third-quarter electronic sales, including web and EDI transactions, amounted to $216.2 million, or 13.9% of total sales of $1.55 billion. When including vendor-managed inventory, Fastenal’s digital footprint is now 45% of sales, CEO Dan Florness says. “And that number nine months ago was in the 30s, so really pleased with that.”
Fastenal Co., a big distributor of original equipment (OEM), maintenance, repair, and operations (MRO), construction, industrial, and safety products, posted strong digital sales in the third quarter.
For the third quarter ended Sept. 30, ecommerce sales—including transactions processed on the web and through EDI—totaled about $216.2 million, or 13.9% of total sales of $1.554 billion.
Web sales alone increased by 43% year over year, CEO Dan Florness said on a third-quarter earnings call with stock analysts.
“You combine Fastenal Managed Inventory (FMI) and ecommerce, our digital footprint is now 44% of sales—45% of sales, excuse me, and that’s where we ended the quarter in September,” he told analysts. “And that number nine months ago was in the 30s, so really pleased with that.”
Content Source: DigitalCommerce360