15399 Mon, 10/13/2008 - 12:23pm
INDEPENDENCE, Ohio–North American sales of major appliances in September were down in the mid- to high-teen percentages, according to a new report from Longbow Research.
Conducted by Longbow analyst David MacGregor, the survey queried retailers of major appliances in both North America and Europe. In a statement issued by the research firm, MacGregor said, “Among respondents, 70 percent indicated that they have seen sales down versus a year ago. … This is a more negative response than we received in August,” in which 62 percent of the responding retailers said their sales had fallen.
The outlook down the road for major appliance sales in North America is not much more positive, MacGregor added. Forty percent of Longbow’s survey respondents said sales will improve in the coming months, compared with 83 percent who had an upbeat outlook at this time last year.
“We anticipate some very cautious outlook discussions from [chief executive officers] on the upcoming earnings conference calls, as they seek to manage down expectations,” MacGregor said.