How Whirlpool Survived A Rough Recovery From The Housing Crash
Late 2011 was not a fun time for Whirlpool. Falling appliance had led management to orchestrate a significant restructuring that resulted in hefty layoffs and the company’s stock got caught up in worries about the survival of retailer Sears Holdings, for which it makes the Kenmore line.
Fast forward a year and change though and it’s quite a different story. The stock doubled in 2012 and after a strong earnings report added another 6.1% Thursday to close at $115.38. The gain was built on profits that beat expectations at $2.29 a share