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Household Durables

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  • BENTON HARBOR, Mich.— Whirlpool posted greater first-quarter profits but still fell short of expectations and the appliance maker cut its full-year profit forecast citing the strong dollar and weaker demand in Brazil, where inflation and unemployment are spiraling. Adjusted per-share earnings were $2.14 per share, well short of the $2.45 that analysts were...

  • Electrolux Q1 profit falls less than expected Friday, 24 Apr 2015 | 3:32 AM ET

    Home appliances maker Electrolux reported a smaller-than-expected fall in first-quarter earnings on Friday.

  • UPDATE 2-Osram paves way for possible lamps spin-off Tuesday, 21 Apr 2015 | 12:00 PM ET

    *Osram to separate 2 bln-euro lamps business. FRANKFURT, April 21- Germany's Osram plans to transfer its 2 billion-euro general lamps business into an independent legal structure, it said on Tuesday, paving the way for a possible spin-off or sale. Osram's new chief executive Olaf Berlien has been reviewing the company's strategy, and Chief Financial Officer...

  • China's incredible shrinking factory Thursday, 16 Apr 2015 | 5:00 PM ET

    HUIZHOU, China, April 17- Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Cankun, an appliances factory in southern China featured in the documentary Manufactured Landscapes, had more than 22,000 manufacturing employees in 2005, according to its annual report. Some Hong Kong- owned factories in southern China...

  • Finding that her top toy choice, Shopkins- tiny grocery store characters made by Australia's privately-held Moose Enterprise- was sold out, Catie went directly to the Barbie row and picked out one of Mattel Inc.' s iconic dolls. Though Mattel, Hasbro and Lego control about 40 percent of the U.S. toy market, there's a growing niche for smaller companies such as Alex...

  • STOCKHOLM, April 8- White goods maker Electrolux said on Wednesday its North American appliances business would make an unexpected loss in the first quarter, partly due to costs related to adjustments to product lines in the region. Electrolux, a rival of Whirlpool Inc, makes nearly a third of its sales in North America and has been benefiting from firm demand in...

  • Race to the bottom: Cotton vs polyester prices Tuesday, 7 Apr 2015 | 6:15 AM ET

    By Henning Gloystein SINGAPORE, April 7- Bulging cotton inventories in China and slumping oil markets have triggered a race to the bottom between cotton and polyester prices. Futures prices in China, both the world's largest producer and importer, are also down a third. That significantly reduced U.S. exports to China, and added supply to a global cotton market...

  • *Vestel says facing surge in mobile phone imports to Turkey. GENEVA, March 23- The European Union and Taiwan have said a bid by Turkish appliance manufacturer Vestel to get Ankara to impose emergency import tariffs on mobile phones would probably be illegal if it is approved, according to documents published on Monday. Turkey notified the World Trade...

  • Electrolux uses motor industry ideas in productivity push Thursday, 19 Mar 2015 | 11:02 AM ET

    *30 pct of production remains in Europe, North America. The Swedish group has called an end to major plant moves out of Europe and North America. American CEO Keith McLoughlin is using modularisation, a motor industry technique that has come late to home appliances, and Electrolux has recruited from the likes of Volkswagen AG.

  • March 1- Lumber Liquidators Holdings Inc, a retailer of hardwood flooring in North America, sold flooring with higher levels of formaldehyde than permitted under California's health and safety standards, according to television news program "60 Minutes." CBS's "60 Minutes" said it tested Lumber Liquidators' flooring in Virginia, Florida, Texas, Illinois and New...

  • March 1- Lumber Liquidators Holdings Inc, a retailer of hardwood flooring in North America, sold flooring containing levels of formaldehyde that were higher than those permitted under California's health and safety standards, according to television news program "60 Minutes". CBS's "60 Minutes" said it tested Lumber Liquidators' flooring in Virginia, Florida,...

  • LONDON, Feb 25- AO World, the British online retailer of domestic appliances that soared at its flotation a year ago, cut its full-year earnings outlook on Wednesday and saw its shares crash by 46 percent at the open. AO, which has also moved into Germany as part of a wider European expansion plan, said some of the revenue growth this time last year was due to the extra...

  • UK furniture retailer DFS to float in London Friday, 6 Feb 2015 | 2:44 AM ET

    LONDON, Feb 6- British furniture retailer DFS said on Friday it intended to float on the London Stock exchange and expected the offer to raise gross proceeds of 105 million pounds. DFS, which is owned by private equity firm Advent International, has a quarter share of Britain's 3 billion pound upholstered furniture market. It has 105 stores in the UK, Ireland and the...

  • CHICAGO, Feb 4- If the U.S. dollar stays at current levels, Whirlpool Corp's revenue could take a hit of up $1 billion in 2015, but the world's largest appliance maker expects to protect its profits, Chief Executive Officer Jeff Fettig told Reuters on Wednesday. Raising prices in some foreign markets should offset some of the effects of the strong dollar, which...

  • CHICAGO, Feb 4- Whirlpool Corp on Wednesday said 2015 would be another solid year for U.S. sales of its washers, stoves and refrigerators because of the housing market's recovery and low oil prices, and its shares rose 6 percent. Whirlpool reported a net profit of $81 million, or $1.02 a share, down more than 55 percent from $181 million, or $2.26 a share, a year earlier.

  • Whirlpool profit drops due to acquisition costs Wednesday, 4 Feb 2015 | 10:30 AM ET
    An employee works on a Whirlpool washing machine at the company's operations plant in Clyde, Ohio.

    Whirlpool on Wednesday said its fourth-quarter profit fell due to costs from recent acquisitions, but excluding costs, the results beat expectations.

  • CHICAGO, Feb 4- Whirlpool Corp on Wednesday said its fourth-quarter profit fell due to costs from recent acquisitions, but excluding those costs, the results beat market expectations. Whirlpool reported a net profit of $81 million, or $1.02 a share, down more than 55 percent from $181 million, or $2.26 a share, a year earlier. Last July Whirlpool acquired a majority...

  • *India lawsuit has no effect on operations- Barra. BEIJING, Jan 16- China's Xiaomi Inc plans to invest in Indian tech start-ups and overseas media content, as the world's No.3 smartphone maker looks to dominate homes with its own TVs and appliances. "One area that we are also looking to make some investments in is start-ups in India.

  • U.S. business spending plans gauge flat in November Tuesday, 23 Dec 2014 | 8:31 AM ET

    WASHINGTON, Dec 23- A gauge of business investment plans was unexpectedly flat in November, suggesting a slowdown in economic growth after a brisk expansion over the last two quarters. Overall orders for durable goods- items ranging from toasters to aircraft that are meant to last three years or more- unexpectedly fell 0.7 percent, even as Boeing reported a surge...

  • *Net was 347.5 mln yuan, revenue 26.6 bln yuan. BEIJING, Dec 15- Privately owned Xiaomi Technology Ltd Co booked 347.5 million yuan in net profit last year, according to a regulatory filing that showed the world's No.3 smartphone maker grappling razor-thin margins. "They're growing so fast and so lean, I wouldn't be surprised even if they were losing money," said...