Whirlpool cuts outlook as U.S. demand slows
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Whirlpool Corp. , the world's largest appliance maker, on Wednesday reported a 13 percent drop in fourth-quarter net earnings as demand softened in the United States, and cut its profit outlook for this year.
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A slowdown in the housing market drove the White House on Tuesday to lower its forecast for U.S. economic growth for this year and next.
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Appliance maker Whirlpool Corp. WHR.N  on Thursday reported a 22 percent drop in fourth-quarter profit  as steel and oil costs rose, sending its shares down more than  4 percent.
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Whirlpool's stock is down today, but its future could be attractive.
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Whirlpool Corp.  said on Tuesday it will cut at least 1,200 jobs at U.S. plants in Indiana and Arkansas and expand production at a Mexico refrigerator plant.
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ORLANDO, Florida  - Whirlpool Corp.  is hoping that it will be able to expand its business with retailers such as Best Buy Co. , as it introduces new Maytag appliances, the company's North America president said on Friday.
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The retailer cuts its full-year outlook upon experiencing lower-than-anticipated Q1 sales.
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Whirlpool Corp , the world's largest appliance maker, reported a 50 percent rise in third-quarter profit on Tuesday as international demand and lower taxes helped offset a drop in U.S. sales.
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Electrolux, the world&#39;s largest maker of household appliances, said Thursday that earnings in the second half of 2004 would be below forecasts because of higher steel prices.
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U.S. consumers will likely face higher  appliance prices next year, but industry watchers do not expect  a significant decline in demand for washers and refrigerators  as a result.
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Black & Decker slashed its fourth-quarter profit outlook on Friday, citing worse-than-expected conditions in North America and a one-time charge.
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Whirlpool Corp. , the world's largest appliance maker, on Wednesday reported lower fourth-quarter net earnings after a loss from discontinued operations tied to assets acquired when it bought Maytag last year.
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US retail sales are set to slow markedly this year as consumers feel the impact of rising interest rates, the National Retail Federation says.
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The White House cuts its forecasts for US growth over the coming year as a result of a housing market slump.
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Top forecasters cut their outlooks for U.S. growth this year and next but said inflation seems to be leveling off and consumer spending should strengthen in the months ahead, a survey out on Friday showed.
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Evidence of an abrupt slowdown in consumer spending mounted Monday as Sears Holdings, the owner of Sears and Kmart, warned that its profit would most likely plunge as much as 57 percent for the three months ending in early February.
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U.S. consumers will see rates on certificates of deposit and other savings accounts head lower amid worry the economy might enter a recession, and as competition for customers ebbs in the wake of the pending sale of Countrywide Financial Corp.