Winona's Fastenal Company reports that net sales for 2016 went up while net earnings for the year went down.
In its report released Wednesday, Fastenal reported net earnings for the year at 3.9 billion dollars, which was up 2.4 percent from 2015. But the company also reported net earnings of 499-million dollars, down 3.3 percent from 2015.
Net earnings per share of Fastenal stock in 2016 went down 2.3 percent.
Net sales for the fourth quarter of 2016 went up 2.7 percent while net earnings for the fourth quarter also went up by 2.6 percent giving Fastenal a strong finish to 2016.
The number of overall Fastenal employees also was reduced in 2016 to 19,624 worldwide which was a decrease of 5.4 percent from 2015. The number of in-store employees went down by 7.1 percent.
Store locations also went down from 2,622 to 2,503 at the end of 2016.