Best Buy cuts imports as electrical store sector sales slow October 19, 2020 U.S. retail sales continued to recover in September with a 7.1% increase compared to a year earlier. Furniture store sales accelerated to growth of 7.5% compared to just 1.7% in August. Electrical store sales meanwhile dropped by 6.1%, accelerating the August decline of 4.7%, potentially becau... Read more →
LG Electronics takes cautious stance toward COVID-19 recovery July 31, 2020 LG Electronics reported a 17.9% slide in revenues in Q2 after COVID-19 cut demand for the firm’s discretionary-spending products including home appliances. The firm’s outlook is also muted, citing both the ongoing U.S.-China trade war and only a “gradual improvement of the business environment... Read more →
Electrolux, Miele shrug off COVID-19 as appliances power up in June June 26, 2020 The reopening of U.S. electrical retail stores in June has followed a 25.0% year over year drop in sales in May. Firms with direct-to-consumer models may have been able to continue sales at a stronger rate. U.S. seaborne imports of electronics and home appliances indicate retailers broadly are... Read more →
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