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AB Electrolux (publ) (0MDT.IL)

IOB - IOB Delayed price. Currency in SEK
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93.02-1.46 (-1.55%)
As of 02:45PM BST. Market open.
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  • Reuters

    Analysis-Central Europe's shoppers still shell-shocked even as inflation ebbs

    When a $500 Electrolux oven briefly went on sale for 1% of its list price in Hungary last week, within hours shoppers flooded the online store with thousands of orders. "We expect weak consumer sentiment to persist in the European market in 2024 as consumers opt for lower prices and delay non-essential or occasional expenditure," Peter Toth, head of Central and Eastern Europe South sales area at Electrolux, told Reuters when asked about the health of demand on the European Union's eastern wing. The reality across the region is that there are scant signs of a recovery in consumption that governments were counting on to offset weaker demand for exports from a stuttering German economy and pull the region out from last year's inflation-led downturn.


    Electrolux warns of weak consumer sentiment in early 2024 -- Shares in Electrolux (ST:ELUXb) were choppy on Friday after the Swedish appliance maker flagged that it expects consumer sentiment to remain weak early this year.

  • Reuters

    UPDATE 4-Electrolux expects further weak consumer sentiment in early 2024

    Electrolux said on Friday it expected consumer sentiment to stay weak in early 2024 as customers seek cheaper alternatives but the home appliance maker sees demand in major markets stabilising later throughout the year. The Swedish group on Jan. 12 warned its fourth-quarter loss had widened to around 3.2 billion Swedish crowns ($308.48 million)from a year-earlier 2.0 billion due to high costs, especially in North America. Its North America division has weighed on the company for some time due to delays in reaching full capacity at its new appliance factory, weak demand as well as intense price competition.