buyers are switching to cheaper household appliances

STOCKHOLM, July 20 (Reuters) – Europe’s biggest home appliance maker Electrolux posted a loss in the second quarter as cash-strapped buyers turned to cheaper products and demand for residential construction fell.

The Swedish company said organic sales were down 8% as sales fell significantly due to continued low demand.

Electrolux had an operating loss of 124 million kronor ($12.1 million) in the second quarter, compared with a profit of 560 million a year earlier.

($1 = SEK 10.2438)

The original message in English is available under the code: (Anna Ringström)


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