Electrolux Pins Hopes on U.S. as Europe Stagnates
Household appliance maker Electrolux said it hoped a recovering North American market would drive growth this year as Europe is stuck in the doldrums.
Sweden’s Electrolux and bigger U.S. rival Whirlpool have cut costs and increased their exposure to faster-growing emerging markets to offset slowing growth in Europe and North America.
But U.S. demand has been picking up and Whirlpool has a relative advantage in being more exposed to the world’s biggest economy, which accounts for half of its sales versus 30 percent for Electrolux.
Whirlpool reported higher-than-expected quarterly profit on Wednesday