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The sales spike also translated into more jobs, as the company reported it employed 14 percent more people than this time last year.
The Winona-based company recorded $223.5 million in sales last month, a nearly $24 million bump over the October 2007 total of $199.7 million, according to figures released by the company. The figures also show the company having more than 13,750 employees.
Fastenal, which is a retailer of construction and industrial supplies, opened 10 new stores last month. The new businesses raise the total to 150 new stores this year, and company officials project another 10 openings before the end of 2008. Nationally, Fastenal now operates 2,310 stores.
The report comes about three weeks after Fastenal reported gains of more than 17 percent in net sales and earnings in the third quarter of 2008 versus the same time last year.
Fastenal officials also released an investor statement last month to quell concerns after its shares dropped from about $55 to $43 a share from mid-September to early October. In early September, Fastenal replaced mortgage giant Fannie Mae on the Standard and Poor’s 500 index, which is considered a leading indicator of the health of American industry.
Dustin Kass may be reached at (507) 453-3513 or dustin.kass@lee.net.
