A battery powered circular saw includes a rechargeable battery removably attached to the housing and an adjustable shoe pivotally attached to a guard assembly for controlling a depth of cut. A locking mechanism for preventing relative movement between the adjustable shoe and the housing includes a depth of cut strap disposed adjacent a first sidewall of the housing. A lever is disposed adjacent a second sidewall of the housing. A tightening element interconnects the depth of cut strap and the lever. The battery powered circular saw additionally includes a handle extending from the housing. The handle is disposed substantially parallel to a direction of cut and oriented horizontally above the housing. The rechargeable battery pack includes a pair of laterally spaced apart guide rails which cooperate with the pair of longitudinally extending grooves to permit sliding movement of the rechargeable battery pack in a direction parallel to the direction of cut.