Whirlpool Seeing ‘Recession-Level Industry Decline’ Because of War
Whirlpool reported a nearly 10% drop in revenue and a 7% decline in North American major appliance sales due to economic concerns and the Iran war, leading to what its CEO described as a "recession-level industry decline." In response to multiyear inflationary pressures and collapsed consumer confidence, the company announced two significant price hikes. Despite producing 80% of its major appliances in American factories, Whirlpool faces challenges from inflation and decreased demand exacerbated by current policies.
https://www.supplychainbrain.com/articles/44070-whirlpool-seeing-recession-level-industry-decline-because-of-war