Tools, outdoor products, and industrial products company Stanley Black & Decker (NYSE: SWK) has been an excellent performer in 2023, but can that continue? To answer that question, you must first ascertain why the stock has done so well and what investors should look for in the future.

The stock has done well, not because its end markets or earnings outlook has improved. Instead, the main reason is the ongoing execution of its cost and supply chain optimization program and its inventory reduction. 

Simply put, the company benefited from the stay-at-home measures imposed during the height of the coronavirus pandemic, but going into 2023, it was faced with a few significant issues:

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Source Fool.com