Latest news with #home appliances
Reuters
5 days ago
- Business
- Reuters
India's Bajaj Electricals posts quarterly profit plunge on weak demand, one-time charge
Aug 7 (Reuters) - India's Bajaj Electricals ( opens new tab reported a 96.8% slump in first-quarter profit on Thursday, hurt by lower demand for its home appliances and a one-off expense. The Bajaj Group company's net profit fell to 9.1 million rupees ($103,769.93) for the three months ended June 30, from 281.1 million rupees a year ago. The company incurred a one-time expense of 66.8 million rupees, related to ex gratia for the Nashik factory. Before the exceptional item, profit fell 76.7% in the quarter. Net sales fell 8.1% to 10.59 billion rupees. Revenue from its mainstay consumer segment, which sells products ranging from fans to induction stoves, slipped 10.8%. Bajaj Electrical's shares slipped 2.7% after the results. For further earnings highlights, click (Full Story) KEY CONTEXT Analysts said demand was weak for cooling appliances such as air coolers and fans — part of Bajaj Electricals' consumer durables segment — due to the early onset of monsoon. The consumer durables segment accounts for more than three-fourths of the company's total revenue. Last month, peer Havells India ( opens new tab reported first-quarter profit below analysts' estimates on subdued demand and heightened competition. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 87.6940 Indian rupees
Bloomberg
31-07-2025
- Business
- Bloomberg
Ikea Kitchens Coming to Best Buy as Chains Aim to Revive Sales
Best Buy Co. is going to test special sections in its stores dedicated to home retailer Ikea, as the struggling electronics chain tries to boost consumer spending by showcasing its products in domestic settings. The initiative will begin in the fall with 1,000-square-foot areas debuting in 10 stores in Florida and Texas, the companies said. The pilot aims to make it easier for customers to integrate Best Buy appliances into Ikea-designed kitchens and laundry rooms. The departments will also mark the first time that the Swedish company offers services and products at another US retailer.
Yahoo
12-07-2025
- Business
- Yahoo
Jim Cramer on Whirlpool: 'It's Got a Lot More Room to Run'
Whirlpool Corporation (NYSE:WHR) is one of the stocks that Jim Cramer shed light on.. During the episode, Cramer mentioned the stock and said: 'I believe these auto tariffs are real. They'll change the landscape even if Japan and Korea start putting in giant orders for natural gas turbines and airplanes… The stock of Whirlpool, which is now being protected via tariffs on steel from the excessive dumping of, yes, Korean and Chinese imports that undercut Whirlpool's prices significantly. I believe that these competitors will be forced to build more product here if they want a shot at keeping their voluminous market share. Whirlpool stock was hit pretty hard on Liberation Day, made no sense, falling from $90 to $75 one month later. But as investors became fully aware of the ramifications here, Whirlpool was catapulted to $107 and change just over two months later. I think it's got a lot more room to run. It makes the best, but it's been undercut forever.' A close-up of a modern refrigerator with the company logo in the background. Whirlpool Corporation (NYSE:WHR) manufactures and sells home appliances such as refrigerators, laundry machines, dishwashers, and small kitchen devices. The company distributes its products through retailers, distributors, builders, and direct-to-consumer channels. During the July 2 episode, Cramer discussed his sentiment around the company, as he said: 'What else? Alright, those who own Whirlpool have been long-time sufferers. One of the stocks I first bought in 1983, it's pretty much the same price. It's hurt because it's the only real American manufacturer in the industry, and all these other countries dumped their appliances on our country. LG and Samsung, by the way, are from Korea, and Haier's from China, they bought the GE Appliance business. But now they're facing some big steel tariffs. Suddenly, Whirlpool's in the driver's seat. They could be beneficiary of these foreign companies. Wow, it just ran 35 points, though, but it's still a good story.' While we acknowledge the potential of WHR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
