5/7/226
CEO Marc Bitzer said Thursday that the North American slide in sales has a precedent.
“This level of industry decline is similar to what we have observed during the global financial crisis and even higher than during other recessionary periods,” he said during a conference call.
Whirlpool said that its performance has been impacted by the Supreme Court’s recent decision to strike down Trump’s emergency tariffs. Rival appliance makers are seeking refunds to reduce the impact of those tariffs, disrupting pricing in the industry further.
The Benton Harbor, Michigan, company estimated that the tariff impact on its competitors was about 10% to 15%, while the impact on its business was around 5%, according to details in its earnings presentation.
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