Tool demand is decreasing, Snap-On quarterly sales did not meet expectations.
Snap-On reported lower-than-expected sales for the third quarter on Thursday, with inflationary pressures affecting demand in the tool division. Rising borrowing costs and tool price increases - tools being one of the company's largest revenue sources - have led to customer purchasing limitations. Sales in Snap-On's tool division declined by about 3%, dropping to $0.5005 billion, marking the third consecutive quarter of declining sales in that division for the company. According to data compiled by LSEG, total sales decreased by 1.1% compared to the same period last year, amounting to approximately $1.15 billion, slightly below the average expectations of analysts.
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Trump or Harris? Analysts are hotly debating the impact of the election results on various sectors of the US stock market.
①Over the past 8 years, the Trump administration and the Biden-Harris administration have fully demonstrated their policy orientations; ②Overall, industries such as finance and technology that are under the key regulation of the Biden administration are more likely to benefit from Trump's "rollback" policies, while the bullish outlook for other industries is relatively less obvious.
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