Fastenal Corporation Suspects that USPS Operating Changes Hurt Its Finances
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Alan Robinson
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Last week, Fastenal became the first public corporation to report that changes in service standards for single-piece First Class mail have had a negative impact on its finances. In reviewing the 2nd quarter’s results, Fastenal’s CFO Daniel Florness explained that the most significant reason for the increase in the corporation’s accounts receivable was changes in how Fastenal receives payment from its mostly small business customers. Now both June of 2012 and June of 2013 ended on a weekend. So the calendar is similar, so my comment about the calendar might sound a little odd. But what we’re — and I don’t know if this is a post office, logistics thing or [...]
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