Stanley Black & Decker sales rise
Stanley Black & Decker reported 1Q sales of $2.5 billion, up 3% versus prior year.
Net earnings were $81 million, or 51 cents per share, compared to $121.8 million, or 72 cents, in the same period last year.
In the CDIY segment, net sales increased 2%. Both volume and price were relatively flat.
Net sales in Security increased 1%. The CSS North America business grew modestly on an organic basis due to continued steady backlog conversion. CSS Europe declined 5% organically primarily due to pressure within the Nordic region.
Mechanical Access organic sales were up 5% with solid growth in both the commercial mechanical lock business and the automatic door business, which is reflective of improving market conditions, initial success with the distributor business model shift and increased remodeling in the retail channel, respectively.
Net sales in the Industrial segment rose 5%. Organic sales for the Industrial and Automotive Repair (IAR) platform fell 4% as volume declines in Europe driven by industrial customer destocking more than offset strong MAC Tool performance and successes with the CribMaster smart storage products. Engineered Fastening was relatively flat on an organic basis, outpacing global light vehicle production, which retracted 4%.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
