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Sweden's Husqvarna warns of weaker sales, operating loss in Q4
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Sweden's Husqvarna warns of weaker sales, operating loss in Q4
Dec 9, 2024 10:52 PM

COPENHAGEN, Dec 10 (Reuters) - Husqvarna

expects its organic sales for the fourth quarter to decline

year-on-year due to challenging market conditions, particularly

in North America, as well as an unfavourable product mix, the

Swedish group said late on Monday.

Husqvarna now expects organic sales in the quarter to fall

by 5% from a year ago, resulting in an operating loss of between

700 million and 800 million Swedish crowns ($64.2 million-$73.4

million), the garden equipment and tools maker said.

"I am disappointed in our continued negative development in

the fourth quarter," CEO Pavel Hajman said in a statement.

"We continue to execute on our previously announced

cost-saving initiatives and prepare for the 2025 gardening

season with strong product launches," he added.

Husqvarna said its sales were also impacted by retail

partners and servicing dealers focused on reducing their

inventory levels, resulting in lower production volumes.

($1 = 10.9048 Swedish crowns)

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