Record quarter for Stanley Black & Decker

Stanley Black & Decker reported Q1 sales of $4.2 billion, up 34 percent from the prior year, led by the tools and storage segment. CEO Jim Loree said sales were “off the charts” with 41 percent growth in the North American market. Net income of $478 million, or $3.04 per share, was up from $133.2 million, or $0.89 in the comparable period of 2020. Loree pointed to the ongoing pandemic-inspired reno boom, and the “reconnection” customers are having to their homes, as well as heightened attention to health and safety.