Fastenal to close 45 stores in 2H14 Says feels "very good" with what the company has done in terms of sales so far this year. Says believes vending opportunity will be a 'big part' of the company's future. Says has very good sales momentum and has "great momentum" overall for the company going into the 2H14. Says needs to continue to work hard on the company's margins. Says will continue to invest heavily in distribution infrastructure and vending. During 2013 and 1H14, the company incurred some short-term debt to fund CapEx and dividends. This was expected and is expected to continue throughout the remainder of FY14 and possibly FY15. Comments made during the company's Q2 earnings conference call.
Grainger sinks after predicting 'tough' conditions will continue Shares of Grainger moved lower as the company's analyst day got underway. In presentation slides, the company pointed to a "tough industrial economy" and noted it expects "more of the same" in 2016. Grainger cited "short term changes in customer behavior" and added that the "competitive landscape continues to evolve." The distributor of maintenance, repair and operating supplies fell $7.43, or 4%, to $203.75 in midday trading. Grainger's peers include HD Supply Holdings (HDS), Fastenal (FAST) and MSC Industrial (MSM).