A Short Report That Shocked the Markets
The Canadian Investor
00:00
What a Great Year for Whirlpool Appliances
Whirlpool released their full year here. Revenues were down 10% to 19.7 billion. Gross margins were down more than 400 basis points for the year. A large part of this was a write down of their European, Middle East and Africa appliance business. They will form a new euro focused entity with Turkish household appliance manufacturer,. Arselik. The combined entity is expected to have 6 billion euro in sales annually.
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