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Stanley Black & Decker, Inc. (NYSE: SWK) is a global leader in tools and outdoor products, headquartered in the USA. Since its inception in 1843, the company has set the standard for excellence by delivering innovative, powerful tools that professionals rely on worldwide to build, repair, and protect valuable assets. The company's diverse portfolio includes iconic brands such as DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.
Stanley Black & Decker operates in two main segments: Tools & Outdoor and Industrial. The Tools & Outdoor segment, which generates the majority of the company's revenue, includes the Power Tools Group (PTG), Hand Tools, Accessories and Storage (HTAS), and Outdoor Power Equipment. The Industrial segment focuses on engineered fastening systems and other industrial solutions. Geographically, the company's revenue is primarily derived from the United States, with significant contributions from Canada, Europe, Asia, and other regions.
The company is committed to sustainability and global stewardship, aiming to advance these principles across its entire value chain through its operations and workforce. Stanley Black & Decker's recent achievements highlight its strategic business transformation, focusing on innovation, market activation, and cost efficiency. In the third quarter of 2023, the company reported improvements in adjusted gross margins and earnings per share, laying a solid foundation for future growth.
Stanley Black & Decker is also known for its proactive approach in response to market dynamics. The Global Cost Reduction Program, initiated to optimize the company's cost base, has generated substantial savings and improved inventory management, positioning the company for long-term growth and profitability. The program aims to achieve pre-tax run-rate cost savings of approximately $2 billion by the end of 2025.
In addition to its financial initiatives, Stanley Black & Decker emphasizes community support and educational advancement. The DEWALT brand, for instance, has launched the DEWALT Trades Scholarship, awarding scholarships to students pursuing careers in the trades, as part of a broader effort to close the skilled trades gap in the U.S.
With a rich history of innovation and a commitment to future growth, Stanley Black & Decker continues to be a driving force in the tools and outdoor industry, dedicated to supporting professionals and DIY enthusiasts alike.
On April 26, 2023, BLACK+DECKER introduced new attachments for its cordless kitchen mult-tool, the BLACK+DECKER kitchen wand™, enhancing its functionality for home chefs. The latest additions include a food chopper and hand mixer attachments, aimed at simplifying meal preparation. The food chopper allows for chopping, dicing, and blending with features like measurement markings and a liquid port. The hand mixer attachment enables smooth ingredient mixing. Both attachments are now available for purchase on blackanddecker.com and Amazon, priced at $34.99 and $29.99, respectively. The kitchen wand™ operates on a rechargeable battery, capable of mixing up to 10 dozen cupcakes or dicing up to 44 onions on a single charge. These innovations aim to reduce the number of appliances needed in the kitchen, offering flexibility and cordless convenience.
Troy-Bilt, a brand under Stanley Black & Decker (NYSE:SWK), has launched its Low, Slow, & Mow campaign as of April 24, 2023. This initiative addresses the challenges homeowners face in managing household tasks while also caring for their yards. The campaign features partnerships with social media influencers to share slow-cook recipes that homeowners can prepare while performing yardwork. The recipes are designed to save time, allowing users to complete tasks like mowing the lawn while meals cook. The campaign also provides videos and recipe overviews on platforms like TikTok and Instagram. With over 4 million followers collectively among the influencers, the initiative aims to enhance the yardwork experience and promote Troy-Bilt's products.
Stanley Black & Decker (NYSE: SWK) has announced a second quarter cash dividend of $0.80 per common share, reinforcing its position as a leader in industrial dividend payments. This declaration extends the company's streak of consecutive annual and quarterly dividend payments, the longest among industrial firms on the New York Stock Exchange. The dividend is set for payment on June 20, 2023, with shareholders of record as of the close of business on June 5, 2023.
This announcement highlights the company’s commitment to returning value to its shareholders while maintaining its strong market presence in tools and outdoor product manufacturing.
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