SWK News & Events

Stanley Black & Decker is shutting its New Britain, Connecticut, tape measure plant, eliminating about 300 jobs, as it shifts production overseas to lower-cost facilities amid changing product demand toward double-sided tape measures and ongoing cost-cutting efforts to protect margins and streamline its manufacturing footprint, The Wall Street Journal's John Keilman reports.

Reports Q1 revenue $3.85B, consensus $3.75B. Chris Nelson, Stanley Black & Decker's President & CEO, commented, "Stanley Black & Decker entered 2026 with unwavering commitment to our strategic priorities, and we delivered stronger than planned first quarter results through disciplined execution. Our team's focus and resilience ensured that sales, gross margin, and cash1 performance remain firmly on track with our full year plan. I am proud of our team for maintaining their customer-centric approach and for advancing our vision to build a world-class branded industrial company.