New Britain, Conn.-based Stanley Works last week indicated its comfort with the current First Call consensus estimate of $.56 per fully-diluted share for its first quarter ended March 30, up 4 percent over last year and above previous guidance of $.55 per fully-diluted share.
John Trani, chairman and chief executive officer, said, "Revenues were on track with our guidance. It is clear that we are benefiting from recent retail share gains, and consumer markets are improving. The industrial markets appear to have bottomed; and some recovery is apparent, for example in our Hydraulics Tools and Access Technologies businesses.
Trani added, "Our Wal-Mart program continues to outpace customer expectations and the results are generating promotional opportunities for the rest of the year. Our program at Target continues to gain momentum with results consistently exceeding the customer’s expectations. In addition, we have recently placed our new Stanley Pro Series trowel trade offering at Lowe’s and initial orders are being received under our new alliance with The Home Depot for delivery in the second quarter. Finally, our Mac Tools business is solidly profitable for the first time since early 1998."
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
