Stanley Black & Decker increased prices by “high single digits” in April and anticipates a second round of price increases over the summer due to tariffs.
This decision follows Stanley Black & Decker reporting first quarter of 2025 revenues of $3.7 billion, down 3% from the first quarter of 2024.
The company also said it is adjusting its supply chain to become more compliant with the U.S.-Mexico-Canada agreement and reduce its manufacturing footprint in China.
About 15% of its product mix is currently made in China. The company’s goal is to take that down to zero by 2027.
“While the magnitude and frequency of these changes have exceeded our expectations, we have been and remain prepared to address this dynamic trade environment, and we are responding,” CEO Donald Allen said during the company’s recent quarterly call.
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