The Black &Decker Corp., Towson, MD, reported sales were down 3% to $1.6 billion in the second quarter 2008, including a positive 5% impact from foreign currency translation.
Profit for the second quarter of 2008 was $96.7 million, versus $118.0 million for the second quarter of 2007.
The manufacturer of power tools and accessories, hardware and home improvement products, and technology-based fastening systems said weak demand in the U.S. and slowing conditions in parts of Western Europe hurt results.
Power Tools and Accessories sales decreased 10% in the quarter. In the U.S. Industrial Products group, sales were down at a double-digit rate, and the U.S. Consumer Products Group saw a sales decrease of more than 25%.
In Europe, sales were …
Black & Decker Sales Fall 3% in 2Q
The Black &Decker Corp., Towson, MD, reported sales were down 3% to $1.6 billion in the second quarter 2008, including a positive 5% impact from foreign currency translation.
Profit for the second quarter of 2008 was $96.7 million, versus $118.0 million for the second quarter of 2007.
The manufacturer of power tools and accessories, hardware and home improvement products, and technology-based fastening systems said weak demand in the U.S. and slowing conditions in parts of Western Europe hurt results.
Power Tools and Accessories sales decreased 10% in the quarter. In the U.S. Industrial Products group, sales were down at a double-digit rate, and the U.S. Consumer Products Group saw a sales decrease of more than 25%.
In Europe, sales were …
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