Winona's Fastenal Company says despite downward growth trends in 2013, the company believes it will have growth in net earnings per share in the fourth quarter of 2013 when compared to the fourth quarter of 2012.
In a report issued today Fastenal said 2013 has been a building year, but not a year of "Fastenal-like growth."
Fastenal's second and third quarter reports showed the store-based headcount was not growing sufficiently to drive satisfactory growth. In the six-month period from May through November, the headcount has grown from 10,143 employees to 11,421...an increase of 12.6 percent.
Fastenal currently operates 2,689 stores.
During the last three months daily sales growth grew from 5.7 percent to 8.2 percent.
The company said it anticipates it will miss the average analyst net earnings expectations for the fourth quarter of 2013 of 36-cents a share.
Fastenal stock was down $2.39 a share Friday a dip of almost 5-percent.