Electrolux Posts Quarterly Loss on Slumping US Sales
The Swedish appliance maker reported a surprise operating loss of 266 million crowns today. Sales in North America fell by over 11 percent during the period.
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The prominent home appliances manufacturer ELECTROLUX AB-B has reported a significant operating loss for the first quarter, primarily driven by a sharp downturn in consumer demand across the North American market. Based in Sweden, the company revealed that its organic sales in North America plummeted by 11.6%, a contraction that dragged the group's overall organic sales down by 0.5%.
