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Stanley Black & Decker cuts profit outlook for the year as inflation and supply chain costs close in on the tool manufacturer

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Since July, commodity components such as steel resins and purchase components jumped in price, adding $100 million in costs, he said. Average transit time from Asian suppliers to North American manufacturing plants and distribution centers have more than doubled to 85 days from about 40, adding $130 million in costs, McChesney said.

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