Whirlpool CEO: Housing Rebound, Pent-Up Demand to Lift Sales

While global demand has been weak for Whirlpool, CEO Jeff Fettig said on Friday he’s optimistic that a rebound in the U.S. housing market and consumers’ need to replace old appliances will boost sales during the next three to five years.

“This is another year, where we’re bouncing along the bottom in terms of demand from a recessionary level – down about 25 percent from the high in 2006,” said Fettig of the sluggish U.S. market. The company is forecasting another 1 to 2 percent decline this year as consumers make few discretionary

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