Whirlpool foresees sales increase
Valor Econômico - 04/28/2009
The CEO of Whirlpool in Latin America, José Drummond Jr., faced a difficult first quarter, with the 26% decrease in the sales of home appliances and compressors, to US$ 689 million, compared to the same period of 2008. Excluding the dollar effect, which became stronger in the last months, the fall reached 9%. But due to the reduction in the IPI (Excise Tax) on refrigerators, ovens and washing machines adopted in the largest market of the region, Brazil, the second quarter seems much more positive and may reverse the scenario of retraction.
Several retailers, informed Drummond Jr., have already given signs they want to accelerate the placement of new orders. Therefore, it is being outlined a situation which is very different from that faced in the last months when the retailers were operating with very tight stocks. The officer that has in the Brastemp and Consul brands his key brands, said there was even a shortage of products in retail, even though the industry continued producing. Now, with the IPI's reduction for three months and future measures of facilitated credit to retail, which are being negotiated with the Ministry of Finance, the sector receives new fuel to heat sales, he evaluates.