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Electrolux Q1 loss nearly triples on weak demand but beats expectations

Electrolux's operating loss nearly tripled in the first quarter on weak demand and poor performance in North America, but the loss was smaller than expected as raw material costs eased, sending shares up 6%. Electrolux, which prices its products in many regions at the premium end of the market, has seen consumers opt for cheaper alternatives, but said on Friday that is saw consumer confidence indicators to be bottoming out. "The price pressure in North America and high promotional ac...
United States Jonas Samuelson Anna Ringstrom Marie Mannes David Evans Kepler Chevreux
Source: yahoo.com

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Electrolux to close Singapore regional office, relocate leadership team to Bangkok

SINGAPORE: Swedish home appliances maker Electrolux is closing its Singapore regional office at Rochester Road and laying off employees.  The company said on Friday (Feb 2) that its Asia-Pacific (APAC) and Middle East and Africa (MEA) commercial leadership team will also relocate to Bangkok.
Krung Thep Mahanakhon United States Jonas Samuelson Electrolux Group Rochester Road Middle East

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