The Black & Decker Corp., Towson, MD, reported sales fell 27% in the second quarter 2009 to $1.2 billion. Profit was $38.3 million, down from $96.7 million in the prior-year period. The company reported extremely weak" demand in its end-markets for the quarter.
Sales in the company’s Power Tools and Accessories segment fell 21% in the second quarter. U.S. Industrial Products Group sales fell 30% due to declines in both the residential and non-residential areas.
Sales increased at a high single-digit rate in the U.S. Consumer Products Group, with strong shipments of lawn and garden products and the new Porter-Cable line outweighed decreases in other categories.
European sales decreased 30%, similar to the first-quarter trend, with a particularly sharp decline in Eastern Europe. …
