17th February 2021
The Federation of Wholesale Distributors (FWD) has launched a petition asking the Government to offer food & drink wholesalers bespoke financial support in order to save them from collapse in the coming months.
The petition reads: “Food and drink wholesalers are crucial to supplying hospitals, care homes and schools and are a lifeline for vulnerable communities. They are also integral to the post-pandemic economic restart. Despite this, they have been excluded from much Government support and face sector-wide closures.”
It is the latest attempts by the trade association to highlight the wholesale industry’s troubles. The FWD stated that the need for financial aid in the sector is greater than ever with it warning crucial public services will suffer without it.
Stanley Black & Decker profit more than doubles to handily beat estimates
Stanley Black & Decker Inc. posted better-than-expected earnings for the fourth quarter, as profit more than doubled from the year-earlier period despite the challenges created by the pandemic. The New Britain, Conn.-based tool maker said it had net income of $458.0 million, or $2.88 a share, in the quarter, up from $199.1 million, or $1.32 a share, in the year-earlier period. Adjusted per-share earnings came to $3.29, well ahead of the $3.03 FactSet consensus. Revenue rose to $4.408 billion from $3.714 billion, also ahead of the $4.126 billion FactSet consensus. “We are excited to turn the page on 2020 and we enter 2021 with optimism and a company that is running on all cylinders and gaining momentum,” Chief Executive James M. Loree said in a statement. “Despite challenging second half comparables, our 2021 outlook calls for positive organic growth, 11% adjusted EPS growth at the midpoint and another st