SWK - Here's Why Stanley Black & Decker Slumped 19% in the First Half of 2024
2024-07-15 08:18:33 ET
It has been a challenging few years for tools maker and industrial products company Stanley Black Decker (NYSE: SWK) . Those issues are reflected in the stock price decline of 18.6% in the first half of 2024 -- figures according to data provided by S&P Global Market Intelligence . Here's a look at what happened and how the stock might come back from here.
Having seen sales surge during the lockdown periods due to the DIY boom, the tool maker walked into a highly challenging period as the lockdowns ended. Not only were its sales comparisons tough due to the previous boom, but the company faced elevated costs due to the supply chain crisis that followed the reopening of the economy.
In addition, the previous period of strong sales may have discouraged the company from making the kind of long-overdue structural changes necessary to cut costs and compete in its end markets.
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Here's Why Stanley Black & Decker Slumped 19% in the First Half of 2024