Fastenal posts Q1 earnings, sales increase
Winona, Minn.-based Fastenal has posted first-quarter net earnings of $79.5 million, up 42% from $56.0 million in the same period of 2010.
Net sales for the quarter ended March 31 totaled $640.6 million, up 23% from $520.8 million in the year-ago quarter.
The company opened 37 new stores during the quarter, compared with 29 new stores in the first quarter of 2010.
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Trex sponsors 2011 HGTV Green Home
Winchester, Va.-based Trex Co. is the sponsor of the fourth annual HGTV Green Home. Located in the sustainable neighborhood of Stapleton in northwest Denver, the modern-prairie style structure features the latest environmentally friendly products and technologies.
The 2,400-sq.-ft. home features an expansive outdoor living space with a deck constructed of Trex Transcend.
A leader in wood-alternative decking, Trex said it turns 1.5 billion recycled plastic bags into its outdoor living products each year.
"The HGTV Green Home allows Trex to support a neighborhood committed to environmentally friendly living and to educate individuals about how they can incorporate sustainability into their daily lives,” said Ron Kaplan, chairman, president and CEO of Trex.
The home will be open for public tours from May 5 through July 3.
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Container traffic to grow 9% in April
Import cargo volume at the nation’s major retail container ports is expected to grow 9% in April, compared with the same month a year ago, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.
“These numbers are an indication that the economy is recovering and retailers are expecting continued increases in sales through the summer and beyond,” said the NRF’s VP supply chain and customs policy Jonathan Gold. “There are challenges ahead from rising prices for gasoline and other essentials, but inventories are under control and retailers are optimistic.”
March is forecast at 1.2 million TEU, an 11% increase over March 2010. (One TEU is one 20-ft. cargo container or its equivalent.) April is forecast at 1.24 million TEU, up 9% from a year ago; May at 1.32 million TEU, up 4%; June at 1.38 million TEU, up 5%; July at 1.45 million TEU, up 5%; and August at 1.54 million TEU, up 8%.
The first half of 2011 is forecast at 7.4 million TEU, up 8% from the first half of 2010. For the full year, 2010 totaled 14.7 million TEU, a 16% increase over 2009. Last year’s percentages were high because 2009’s 12.7 million TEU was the lowest level seen since 2003.
“The economy is slowly on the mend with many of the key short-term indicators providing positive directions,” Hackett Associates founder Ben Hackett said. “Consumers are buoyed by falling unemployment and are somewhat freer with their money.”
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the U.S. ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast; and Houston on the Gulf Coast.
or..it could mean that
or..it could mean that everybody is trying to beat the price increases that are coming from overseas and have ordered a bunch to do so.