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Household Durables

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  • ATHENS, Nov 28- At Greek home appliance retail chain Electroniki, a washing machine cost 497 euros six years ago. Greece has muddled through 20 consecutive months of deflation, or continuously falling consumer prices- a phenomenon that economists say could soon infect the whole euro zone. Yet alarm over low inflation in other parts of southern Europe does not...

  • *Deal gives Steinhoff exposure to African clothing market. JOHANNESBURG, Nov 25- South Africa's Steinhoff International will buy clothing retailer Pepkor in a $5.7 billion deal that gives the budget furniture firm exposure to Africa's fast-growing apparel market and strengthens its business in eastern Europe. The 62.8 billion rand cash and share deal will...

  • NEW YORK, Nov 21- Middleby Corp, maker of high-end kitchen appliances for both professional and home cooks, has become a new favorite of fund managers as it benefits from changing American dining habits. That push away from Big Macs has spurred Middleby's revenue growth, which hit 14 percent in its current fiscal year, and prompted 81 mutual funds, including those...

  • *Banks owed are FirstRand, Standard, Barclays, Investec. JOHANNESBURG, Nov 5- Four of South Africa's biggest banks are owed $53 million by Ellerine, the money-losing furniture firm that African Bank Investments cut funding to just before the lender collapsed, documents showed. The restructuring plan shows Ellerine owes 241 million rand to FirstRand, 150 million...

  • Oct 28- Whirlpool Corp on Tuesday posted a higher quarterly profit as the housing recovery in the United States lifted sales of its washers and dryers, cooktops, stoves and refrigerators. Benton Harbor, Michigan- based Whirlpool posted a third-quarter profit of $230 million, or $2.88 a share, up from $196 million, or $2.42 a share, a year earlier.

  • Whirlpool posts higher profit but reduces forecast Tuesday, 28 Oct 2014 | 11:11 AM ET
    A customer talks to a sales associate in front of a row of Whirlpool washing and drying machines.

    Whirlpool posted a higher profit on increased sales of its washers and dryers, cooktops, stoves, and refrigerators in North America and Europe.

  • Oct 28- Whirlpool Corp on Tuesday posted a higher quarterly profit, lifted by increased sales of its washers and dryers, cooktops, stoves and refrigerators in North America and Europe. But the world's largest maker of home appliances lowered its full-year profit outlook, citing costs from its acquisitions of Indesit Company SpA and Hefei Rongshida Sanyo...

  • Whirlpool posts higher profit Tuesday, 28 Oct 2014 | 6:17 AM ET

    Oct 28- Whirlpool Corp posted a higher quarterly profit on Tuesday on increased sales of its washers and dryers, cooktops, stoves and refrigerators in North America and Europe. The company, the world's largest maker of home appliances, posted a third-quarter profit of $230 million, or $2.88 a share, up from $196 million, or $2.42 a share, a year earlier.

  • 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.