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Fastenal Company Message Board

  • erebus0075 erebus0075 Mar 19, 2013 6:26 PM Flag

    Fastenal is going downhill FAST on petty freight charges

    I went to my local store to pick up a small order today, and the screws were $2.44 and they wanted to charge me $6.00 something for freight. I thought they were kidding. They were not.
    This is some new corporate ting they told me., they are doing what they are told. So I told them goodbye forever, I will never come back. This co. must be hurting to pull this on small but regular customers.
    I went to Menards, and when they rang me up there was no extra charge for freight. Does the management at fastenal think they are selling something so rare that no on else sells the same stuff?
    I'm not a big stock guy but they must be in trouble of some sort.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Fastenal is geared for manufacturing and not so much for walk in business. Customers understand the freight charges incurred in order to bring in the products they are asking for.

      • 1 Reply to donald.dowie
      • 200% more than the product is worth? Seem realistic? Why are they writing thousands of dollars in freight credits if customers "understand" it so well? They pride themselves on their distribution and how efficient it is. I pay a flat rate $40/skid through common carrier, so they should pay MUCH less than that, but for arguement sake let's use the $40.....lets say there are 100 items on that skid....worst case scenario is each package costs 40 cents.....but charge this poor sole over $6.00???? Yeah, that's realistic.

    • Many companies don't want such small orders -- it costs them more than the goods sold. Menard's includes freight in its prices but doesn't separate the freight into a separate price.You pay for freight in everything you buy.

      • 1 Reply to rpgustafson
      • Even with Menards putting freight into sell price of goods they are still CONSIDERABLY less expensive than fnl.They modeled their distribution after WalMart yet you don't see freight charges at WalMart. They write thousands of dollars every month in freight credits for customers paying attention, but hey, if 80% don't notice they're being screwed they win....beautiful ethics.

        Sentiment: Strong Sell

    • Anything to boost profits short term, including scamming customers and cutting staff. FAST will probably show good numbers for 1Q13, but eventually bad business practices will hurt the bottom line. One bad experience can loose a customer--LOL. Besides, FAST is overpriced and selling way above book. FAST should be closer to $25, and may go there in May-June (sell in May and go away...)

      Sentiment: Sell

      • 2 Replies to chemsysus
      • Sigh... If you want to create the illusion that you know something about investing, then stop citing book value. Yes, FAST is overpriced; however, the fact that it is trading at a very high premium to book is one of the last reasons one should look to when attempting to determine valuation. Overly optimistic growth estimates and relatively light free cash flow are among the key issues here.

        Sentiment: Strong Sell

      • FAST has had these problems for the past 15 years and each year their business numbers have improved and their stock price has gone up. I'm guessing that all the negativity these guys are putting out is that they would like the price of the stock to fall as they have sold short and would profit from a fall. Does anyone agree?

 
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