Reported about 1 month ago
Electrolux's shares fell over 15% following a disappointing Q3, marked by continuous losses in North America and tough competition from Chinese manufacturers. The company's North American operations reported a loss for the tenth consecutive quarter, heavily impacting overall earnings. Despite improvements in European performance, the outlook remains grim due to high costs and market challenges, prompting plans to refocus U.S. operations toward premium products and increased sourcing from Asia.
Source: YAHOO