Sears To Stop Selling Whirlpool Appliances Citing Pricing Dispute Challenges


 
 
11:08 10/24/2017

Shoppers looking to buy Whirlpool, Maytag, Kitchen Aid and Jenn- Air appliances at Sears Holdings Corporation SHLD  might have to search somewhere else after the mega store chain announced it will stop selling their appliances due to a pricing dispute.



The mega retailer that has seen massive closure of its stores countrywide and its shares down 30 percent in 2017 will however continue selling other brands like LG, Samsung, GE, Frigidaire, Electrolux, Bosch and its Kenmore brand. Sears also inked a deal with the largest online retailer Amazon.com, Inc. AMZN  in July to sell Kenmore-branded appliances, some with Alexa capabilities, on Amazon.com.



Sears however plans to continue selling Whirlpool Corporation WHR  products in its stores until inventory is depleted.



Michigan based Whirlpool missed third quarter street forecasts on Monday reporting net income of $276 million posting revenue of $5.42 billion against the streets forecast of $5.49 billion.



High demand for construction equipment send shares of Caterpillar Inc. CAT  rallying to new 52 week highs after beating the streets estimates posting a profit of $1.06 billion with revenues rising 25 percent to $11.41 billion. Construction equipment revenue rose 37 percent to $4.85 billion, followed by energy and transportation equipment rising 12 percent to $3.96 billion. Those segments were the key revenue drivers during the quarter. Caterpillar now expects full-year adjusted earnings to be $6.25 per share, up from a previous estimate of $5 per share. It expects revenue of $44 billion.

Caterpillar shares have risen 42 percent since the beginning of the year


This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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