Electrolux share price falls 12% today, for a total drop of 33% drop since January 1. These unfortunate numbers are all the worse as Whirlpool’s share price dropped only 15%.
Analysts had predicted net income this quarter would be down 34%, but were surprised when net income was actually down 45%.
Electrolux will continue to raise prices everywhere, and shift focus to emerging markets.
Sub-Saharan Africa anyone?