Fastenal Company Reports 2010 Fourth Quarter And Annual Earnings
Store Size and Profitability – The store groups listed in the table below, when combined with our strategic account stores, represented approximately 88%, 87%, and 88% of our sales in the fourth quarter of 2010, 2009, and 2008, respectively. Strategic account stores are stores that are focused on selling to a group of strategic account customers in a limited geographic market. Our remaining sales (approximately 12%, 13%, and 12%, respectively) relate to either: (1) our in-plant locations, (2) our direct Fastenal Cold Heading business (including our Holo-Krome business acquired in December 2009), or (3) our direct import business. Our average store had sales of $67,600, $58,100, and $70,200 per month in the fourth quarter of 2010, 2009, and 2008, respectively. This average amount was $71,600 per month in the first quarter of 2007 (the last completed quarter before we began the 'pathway to profit'). The average age, number of stores, and pre-tax earnings data by store size for the fourth quarter of 2010, 2009, and 2008, respectively, were as follows:
|Sales per Month||Average Age (Years)||Number of Stores||Percentage of Stores||Pre-Tax Earnings Percentage|
|Three months ended December 31, 2010|
|$0 to $30,000||3.8||467||18.8%||-13.2%|
|$30,001 to $60,000||6.8||967||38.8%||12.7%|
|$60,001 to $100,000||9.6||582||23.4%||21.9%|
|$100,001 to $150,000||12.1||279||11.2%||25.2%|
|Strategic Account Store||39||1.6%|
|Three months ended December 31, 2009|
|$0 to $30,000||3.9||620||26.2%||-16.2%|
|$30,001 to $60,000||6.8||931||39.3%||10.0%|
|$60,001 to $100,000||9.3||516||21.8%||20.0%|
|$100,001 to $150,000||13.0||176||7.4%||23.8%|
|Strategic Account Store||27||1.1%|
|Three months ended December 31, 2008|
|$0 to $30,000||2.7||498||21.5%||-23.9%|
|$30,001 to $60,000||5.3||797||34.5%||9.9%|
|$60,001 to $100,000||8.0||539||23.3%||20.9%|
|$100,001 to $150,000||10.2||286||12.4%||25.9%|
|Strategic Account Store||20||0.9%|
Note – Amounts may not foot due to rounding difference.
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