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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 15, 1995
The Stanley Works
(Exact name of registrant as specified in charter)
Connecticut 1-5224 06-058860
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Stanley Drive, New Britain, Connecticut 06053
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(203) 225-5111
Not Applicable
(Former name or former address, if changed since last report)
Page 1 of 5 pages
Exhibit Index is located on Page 4
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Item 5. Other Events.
1. On June 15, 1995, the Registrant issued a
press release.
Attached as Exhibit (20)(i)is a copy of the Registrant's
press release. This Exhibit is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(c) (20)(i) Press release dated June 15, 1995 reporting on
Stanley's weakening demand.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized
THE STANLEY WORKS
Date: June 15, 1995 By: Stephen S. Weddle
Name: Stephen S. Weddle
Title: Vice President,
General Counsel
and Secretary
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EXHIBIT INDEX
Current Report on Form 8-K
Dated June 15, 1995
Exhibit No. Page
(20) (i) 5
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FOR IMMEDIATE RELEASE June 15, 1995
STANLEY REPORTS WEAKENING DEMAND
New Britain, Connecticut (NYSE:SWK) "Strong unit volume gains realized in the
first quarter of this year will not be maintained in the face of weakening order
patterns within U.S. consumer channels of distribution and in some
construction-related product categories," reported Richard H. Ayers, Chairman
and Chief Executive Officer of The Stanley Works.
Mr. Ayers continued, "Order activity outside the U.S., particularly in Europe,
remains good and our industrial tool businesses are also experiencing good
growth. We are optimistic that these product categories will continue to perform
well. However, the weakness in the consumer channel has become more visible and
significant in recent weeks. As a result, we are less optimistic about sales
growth, and earnings will likely be below last year's second quarter.
"The pullback in orders among retailers and distributors appears to be the
result of both weakness in retail sales and some level of inventory adjustments
by retailers following unusual winter and early spring selling seasons.
"While the effects of this recent change in activity have reduced our earnings
expectations for this quarter, we have begun to take steps to reduce costs and
adjust inventory levels among those businesses most affected by the weakness in
demand."
Mr. Ayers concluded, "We expect that continued growth in Europe and in our U.S.
industrial tool businesses, combined with the steps currently being taken, will
provide us with improved comparisons in the second half of the year. The full
year, however, now looks less optimistic than our view a few months ago."
CONTACT: Patricia McLean
Manager, Corporate Communications
(203)827-3833
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