Household Durables


  • Whirlpool closes on China deal in overseas push Friday, 24 Oct 2014 | 6:56 AM ET

    BENTON HARBOR, Mich.— Whirlpool has completed its acquisition of a majority stake in Chinese appliance maker Hefei Rongshida Sanyo Electric Co. for approximately $552 million. Whirlpool announced the transaction for a 51 percent stake in Hefei in August 2013, and less than a year later took a $1 billion stake in Italy's Indesit, as the American appliance maker...

  • Electrolux buoyed by US growth Monday, 20 Oct 2014 | 4:47 AM ET

    STOCKHOLM— Growth in the U.S. and efficiency gains in Europe helped Swedish home-appliance maker Electrolux post a 42 percent jump in third-quarter profits. Electrolux CEO Keith McLoughlin told The Associated Press said he was "quite pleased with the result in what could be characterized as challenging macro conditions." Last month, Electrolux— ranked as the...

  • UPDATE 1-Retailer Conn's says could sell itself Monday, 6 Oct 2014 | 8:43 AM ET

    Oct 6- Electronics and home appliance retailer Conn's Inc said it would consider selling itself as part of a review of strategic options. Shares of the company, which has a market capitalization of about $1.20 billion, were up 8 percent at $35.60 in premarket trading on Monday. Activist shareholder David Einhorn's Greenlight Capital Inc and hedge fund Luxor...

  • Retailer Conn's says could sell itself Monday, 6 Oct 2014 | 7:18 AM ET

    Oct 6- Electronics and home appliance retailer Conn's Inc said it would consider selling itself as part of a review of strategic options. Conn's, which also adopted a poison pill takeover defense, has engaged BofA Merrill Lynch as financial adviser and Vinson& Elkins LLP as legal counsel to assist in the process. Other options include separation of its retail and...

  • *Restructuring charges of 50 million euros through 2016. AMSTERDAM, Sept 23- Philips, the Dutch conglomerate that started life making light bulbs 123 years ago, is splitting off its lighting business in a bold step to expand its higher-margin healthcare and consumer divisions.

  • AMSTERDAM, Sept 23- Philips said on Tuesday it would break its 120- year-old company in two, creating a stand-alone lighting business and merge consumer and healthcare divisions into a 15- billion euro business.

  • Samsung: LG, stop vandalizing our washing machines! Monday, 15 Sep 2014 | 6:56 AM ET
    A Samsung employee holds a smartphone remotely controlling a WW9000 washing machine at the IFA consumer technology fair in Berlin, September 5.

    Samsung has accused the head of rival LG Electronics' appliances business of damaging Samsung washing machines at retail stores.

  • *Electrolux to issue shares after deal completed. STOCKHOLM, Sept 8- Sweden's Electrolux AB said on Monday it would double U.S. sales by paying $3.3 billion in cash for General Electric Co's appliances business in its biggest ever deal, giving it the scale to go head-to-head with larger rival Whirlpool.

  • NEW YORK/ STOCKHOLM, Sept 4- Sweden's Electrolux AB is near a deal to buy General Electric Co's iconic appliance business for more than $2.5 billion, in a move that would significantly expand its reach in North America, people familiar with the matter said. Representatives for GE and Electrolux declined to comment.

  • Aug 21- Home Depot Inc named retail industry veteran Craig Menear as its chief executive, four months after he was appointed as head of the home improvement chain's U.S. retail business. Menear, 56, joined Home Depot in 1997 as a merchandising manager.

  • NEW YORK, Aug 14- General Electric Co is in talks with Sweden's Electrolux AB and other parties to sell its household appliances unit, people familiar with the matter said on Thursday. Bloomberg News earlier reported that GE's appliances unit had drawn interest from Electrolux and consumer development startup Quirky.

  • *Game Digital re-emerges after old firm nearly went bust. Although overall growth trends still firmly favor online shopping, higher share prices flag investor faith in chains such as UK video-game retailer Game Digital, electrical-appliance group Dixons, and Swiss Mobilezone.

  • July 25- U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth. Several companies reported tepid performance in Brazil, the biggest economy in Latin America, where some economists fear the country is on the verge of a recession.

  • The U.S. appliance maker said its sales in China plummeted 80 percent last quarter as retailers in that country, anticipating its pending merger with Hefei Rongshida Sanyo Electric Co and the new line the merged entity will produce, stopped buying Whirlpool-branded products.

  • July 23- Whirlpool Corp on Wednesday reported a lower quarterly profit as sales fell in every region except North America. The world's largest maker of home appliances posted a second-quarter profit of $179 million, or $2.25 a share, down from $198 million, or $2.44 a share, a year earlier.

  • July 16- General Electric Co is in talks to sell its century-old household appliances business for as much as $2.5 billion, Bloomberg reported, citing people familiar with the matter. The business, which had revenue of more than $8 billion in 2013, may fetch $1.5 billion to $2.5 billion in a sale, Bloomberg quoted the people as saying.

  • MILAN, July 11- Whirlpool, the world's largest maker of home appliances, has agreed to pay 758 million euros to buy a 60 percent stake in smaller Italian rival Indesit to further expand beyond its U.S. home market.

  • July 10- Whirlpool Corp, the world's largest maker of home appliances, said it will buy 66.8 percent of voting stock of Italian white goods maker Indesit Company SpA for about 758 million euros to spur its growth in Europe.

  • MILAN, July 3- Italy's fashion designers have long been plagued by cheap copies of their bags and clothing but there is also a flourishing market for reproductions of high-end furniture for those that covet "Made in Italy" architectural style at low prices. Some have taken legal action, but now a new law introduced this year in Italy may help their cause.

  • June 30- Philips is to merge its lighting components businesses into a separate unit worth up to 2 billion euros which may be listed- a major step in its ongoing strategy to refocus on healthcare and high-end lighting systems.