SWK INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Officers of Stanley Black & Decker, Inc.

New York, New York--(Newsfile Corp. - March 23, 2023) - Levi & Korsinsky notifies investors that it has commenced an investigation of Stanley Black & Decker, Inc. ("Stanley" or the "Company") (NYSE: SWK) concerning possible violations of federal securities laws.

Before market opened on July 28, 2022, Stanley announced results for the second fiscal quarter ended July 2, 2022, including that Fiscal 2022 second quarter gross margin for the quarter was 27.5%, down 800 basis points from the prior year. Stanley announced gross margins were affected by commodity inflation, higher supply chain costs, and lower volume. Additionally, Stanley announced inventory was $6.6 billion, up approximately $400 million compared to first fiscal quarter of 2022. Stanley explained inventories remained elevated versus expectations due to the impact of softer demand and a double-digit decline in volume. Stanley also announced that it was revising its 2022 earnings per share outlook downward to $0.80 to $2.05 on a diluted GAAP basis from $7.20 to $8.30, and on a Non-GAAP adjusted basis to $5.00 to $6.00 from $9.50 to $10.50. Stanley attributed the guidance reduction, in part, to lower second half revenue, primarily driven by slowing consumer demand as reflected in volume, and by moderated expectations for price.

Following this news, Stanley's stock price fell more than 16% to close at $98.58 per share on July 28, 2022. To obtain additional information, go to:

https://zlk.com/pslra-1/stanley-black-decker-inc-information-request-form-2

or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, Suite #427
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159422