Electrolux,
the world s second-biggest appliances maker, reported on Friday
a bigger increase than expected in operating loss for the first
quarter as weak market demand hurt sales volumes. .
Electrolux Q1 Loss Nearly Triples on Weak Demand but Beats Expectations usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
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 activity in other markets characterizing the latter part of 2023 continued in the first quarter."
Sweden s Autoliv
reported a first-quarter adjusted operating profit above
expectations on Friday and said it had outperformed global light
vehicle production by six basis points. .
Swedish industrials
group Atlas Copco reported on Wednesday a
first-quarter adjusted operating profit just above expectations
and predicted demand would remain at the current level in the
near term. .