Feb 4 (Reuters) - Husqvarna's CEO Glen Instone said on Wednesday trade tariffs are now "part of doing business" and that the Swedish garden gear maker would need to continue passing higher costs on to
Husqvarna CEO Acknowledges Tariffs as Business Norm, Anticipates Price Increases
Impact of Tariffs on Husqvarna's Business
Feb 4 (Reuters) - Husqvarna's CEO Glen Instone said on Wednesday trade tariffs are now "part of doing business" and that the Swedish garden gear maker would need to continue passing higher costs on to customers if the measures remain in place.
Consumer Demand Trends
"We had to pass price increases through last year. And if tariffs continue, we need to continue having price increases through," Instone told Reuters.
Strategies to Mitigate Tariff Effects
The CEO also said consumer demand in North America has stabilised at a lower level, with delayed purchase or wait-and-see type behaviour during a period of weak sentiment.
"Tariff exposure that is more apparent in the US is probably causing more consumer questions, delayed purchases and therefore negative consumer sentiment. It does seem to be a little bit more positive in Europe", Instone added.
Husqvarna had tariff exposure of about 375 million Swedish crowns ($42.15 million) last year and offset part of the impact through price increases, supply route changes and switching suppliers.
($1 = 8.8970 Swedish crowns)
(Reporting by Jesus Calero; Editing by Matt Scuffham)
