Q1 North American Sales Sluggish For Electrolux

Electrolux achieved a 4.5% in terms of organic sales growth first quarter as European demand for appliances improved, the company reported. The European result derived from improved product mix and lower costs, but North American sales were more sluggish, effected by harsh weather conditions in early 2014, according to the company.

Electrolux net earnings came in at 431 million Swedish krona, or about U.S. $66 million, versus 361 million krona, or $54.9 million, in the year prior. Sales were 25.33 billion krona, or about $3.85 billion versus 25.63 billion krona, or $3.9 billion, in the year earlier.

Electrolux experienced a strong North American recovery in March although only a slight sales gain in the quarter overall, the company stated.


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