Electrolux warns of a loss due to weak North America performance

This post was originally published on this site

“Inventory reduction activities at retailers in the fourth quarter across regions were larger than expected contributing to a weak market,” Europe’s biggest home appliance maker said, adding it also struggles with higher costs.

The main contributor to the earnings decline was the company’s North American business with an operating loss of approximately SEK 1.2 billion crowns, excluding non-recurring items, similar to the result in the third quarter of 2022.

($1 = 10.4785 Swedish crowns)