Stanley B&D Has Robust First Quarter

Stanley Black & Decker had net sales of $4.2 billion for the first quarter of 2021, up 34 per cent versus prior year from volume (29 per cent), price (two per cent) and currency (three per cent). Gross margin for the quarter was 37.3 per cent. Tools and storage net sales increased 48 per cent versus the first quarter of 2020 due to volume (42 per cent), price (three per cent) and currency (three per cent). North America growth was driven by a robust performance in retail and a surge in the commercial and industrial channels. Industrial net sales expanded 11 per cent year-over-year, and security net sales grew two per cent. Overall net earnings were $478 million compared to $133.2 million in the year-ago period.