Why Shares in Fastenal Soared 41% in 2019
Shares in industrial supply company Fastenal (NASDAQ: FAST) soared 41.3% in 2019 according to data provided by S&P Global Market Intelligence. It was a truly remarkable occurrence, not least because most of it comes down to internal execution.
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In a year when U.S. industrial production came in lower than most of the expectations going into it, Fastenal managed to generate high-single-digit sales and operating income growth largely based on its strategy of expanding onsite locations, e-commerce sales growth, and placing industrial vending machines.
Source Fool.com
