NEW BRITAIN, Conn. — Stanley Black & Decker raised its outlook as it posted Q2 net sales of $2.9 billion, up 2% from last year. Operating margin rate was 15.8% compared to 14.4% in 2Q’15, as operational actions to improve profitability more than offset approximately $40 million of unfavorable currency. The company also announced that chairman and CEO John F. Lundgren will retire as CEO effective at the end of this month. He will continue as chairman until the end of the calendar year and as Special Advisor through April 2017. President and Chief Operating Officer James M. Loree will take over as CEO and join the board on August 1.
Stanley announces earnings, CEO change
Most Recent
Most Read
AQMAT unveils its “Family Portrait” of the industry in Quebec
Wed, May 01st, 2024
Is the honeymoon ending for self-checkout?
Wed, May 01st, 2024
Amazon announces first quarter results, triples profits
Wed, May 01st, 2024
Peavey marks grand opening in Manitoba
Tue, April 30th, 2024
Hiring in Ontario? Legislation around job postings has changed
Tue, April 30th, 2024
Steffan Yantzi joins Home Hardware stores as shareholder
Mon, April 29th, 2024
Looking for your next new hire? Hardlines Classifieds can help
Mon, April 29th, 2024
RONA adds six new affiliate dealers
Fri, April 26th, 2024
King Marketing gathers national team, celebrates achievements of its reps
Fri, April 26th, 2024
Aaron Jarosz promoted to lead Home Depot Canada's pro services
Thu, April 25th, 2024