Husqvarna Predicts Q4 Sales Drop and Operating Loss
COPENHAGEN (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)
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
