Swedish appliance maker Electrolux reports Q1 operating loss of 720M kronor due to weak demand in North America and lower performance.
Swedish home appliance manufacturer Electrolux reported a larger-than-expected Q1 operating loss of 720M kronor due to weak demand and poor performance in North America. The loss was smaller than expected as raw material costs eased. Electrolux has struggled to compete with lower-price rivals such as China's Midea amid cash-strapped households opting for cheaper alternatives. The company's net loss widened to SEK 1.23 billion ($1.13 million) in Q1.
April 26, 2024
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