New e-commerce site launched for tools
A new Internet retailer has entered the marketplace, promising name brand tools at discount prices, customer reviews and social media networking. The site, dwttools.com, is owned and operated by DWT Global, based in Delaware.
Current product categories found on dwttools.com include abrasives, pneumatic, power, hand and automotive tools. Brand names include Channellock, DeWalt, Irwin and Milwaukee.
Visitors of dwttools.com can browse products by price category, and a gift registry is available for new homeowners and newlyweds. Social media "share" applications enable visitors to share products on social media platforms, such as Facebook and Twitter.
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Stanley Black & Decker Q2 net sales increase
Stanley Black & Decker posted second-quarter net sales of $2.8 billion, up 8% from $2.6 billion in the prior-year quarter. The company attributed this to price (+1%), volume (+1%) and acquisitions (+10%), which were partially offset by currency (-4%).
Net earnings for the quarter totaled $154.8 million, down 22% from $197.6 in the second quarter of 2011.
CDIY grew 5%, reflective of new products and market share gains in almost every region of the world. The Industrial segment grew 1% as strength in the Engineered Fastening business more than offset European weakness within Industrial & Automotive Repair (IAR) and a weak North American onshore pipeline market.
“Returning cash to our shareholders continues to be a significant component of our capital allocation strategy,” said John Lundgren, Stanley Black & Decker’s president and CEO. “The 20% dividend increase and share repurchase program we announced today reflects our sensitivity to shareholder value creation and confidence in the cash generation potential of the company for both the near term and the future.
“These actions, partnered with our proven ability to operate, acquire, integrate and successfully grow businesses, are core to our shareholder value proposition,” he added.
The company reiterated its guidance that organic net sales should increase 1% to 2% from a 2011 pro forma revenue base of $11 billion. This includes the impact of revenue synergies from the Black & Decker merger.
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Housing starts show yearly gains in June
Housing starts increased to a seasonally adjusted annual rate of 760,000 in June, up 6.9% from the revised May estimate of 711,000 and 23.6% above the June 2011 figure.
The June Residential Construction report from the Commerce Department showed a greater concentration of starts in the single-family sector, as compared with multi-family. Single-family housing starts in June were at a rate of 539,000, a 4.7% increase from the revised May figure of 515,000. The June rate for units in buildings with five units or more was 213,000.
On a regional basis, there was little change in the month-to-month starts in single-family housing starts. But yearly comparisons showed gains across the country, with the West coming out on top with a 38.3% spike. In the Midwest, single-family starts rose 15.7% in June 2012 compared with June 2011 and in the South, 14.2%. The Northeast showed a 19.4% increase.
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