Français
Deutsch
Español
Italiano
Português
日本語
한국어
Русский
Trailer fire damages Lee’s Summit warehouse Thursday night
Aug 18, 2023Chicago fire: 2 die after Belmont Cragin apartment fire on Marmora Avenue
Aug 22, 2023Police searching for assailant who set fire to car, killing man in South LA
Aug 08, 2023Daily Herald
Aug 12, 2023Auto repair costs have soared 20% in past year, with no relief in sight
Aug 06, 2023Stanley Black & Decker posts narrower
Jun 10, 2024Aug 1 (Reuters) - Stanley Black & Deckerreported a lower-than-expected loss in the second quarter onTuesday, as cost cut measures cushioned a hit from coolingdemand for its power tools.
The industrial tools maker last year cut 1,000 jobs in aneffort to trim costs, according to media reports.
The New Britain, Connecticut-based company reported an about5% fall in quarterly revenue to $4.2 billion in the quarterended July 1, hurt by lower demand for its power tools from DIYcustomers and the divestiture of its oil and gas business.
Stanley Black & Decker, whose primary customers include homeimprovement chain Lowe's, construction businesses andaerospace manufacturers, now expects a 2023 net loss of between50 cents and $1.25 per share, down from 60 cents to $1.65 itforecast previously.
On an adjusted basis, the company posted a quarterly loss of11 cents per share, compared with Refinitiv IBES estimates for aloss of 37 cents.(Reporting by Aishwarya Jain; Editing by Shinjini Ganguli)