After a weak third quarter in which sales grew only 1.5 percent, Fastenal’s leadership isn’t “real optimistic” that the economic conditions dampening growth for the distributor will “bounce back quickly,” according to outgoing CEO Will Oberton.
“The industrial environment is in a recession,” new CEO Daniel Florness said in a call to discuss the third-quarter results. “I don’t care what anybody says, because nobody knows that market better than we do.”
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via Fastenal: ‘We Need to Create Our Own Luck’ | 2015-10-14 | Modern Distribution Management.