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Construction and DIY (CDIY) business performed "admirably" for Stanley Black & Decker during its second quarter. But the real new news, according to President and COO James Loree was "the emergence of solid organic growth in industrial and a growing order book in security."
Stanley posted second quarter revenues of $2.9 billion, an increase of 12%. Net earnings increased to $187.1 million, up 20.1% from the same quarter last year.
In the CDIY segment, Stanley sales increased 9%, as headwinds in the North America outdoor market and a softer Latin America market dissipated, as the company expected.
"Our DIY business continues to perform admirably due to a confluence of positive factors including favorable U.S. market conditions, share gains derived from new product introductions and revenue synergies, storng supply chain executition driven by Stanley Fulfillment System and growing penetration of emerging markets in connection with our organic growth initiative," said Loree.
Net sales in the industrial segment rose 28%.