Appliance Snapshot šŸŒ

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šŸ”¹ Electrolux:
* Q2 Revenue: -3% YoY
* Major challenges: Inflation, interest hikes, geopolitics
* Regional dips: Europe -10%, APAC & MEA -12%
šŸ”¹ Whirlpool:
* H1 Revenue: $9.4B (YoY -5.8%)
* Q2 Regional Growth: Latin America +4%, North America -5%
šŸ”¹ Samsung:
* H1 Revenue: KRW 123.8T (YoY -20%)
* Highlight: VD/DA segment growth & efficient cost management in white goods
šŸ”¹ LG Electronics:
* H1 Revenue: KRW 40.4T
* Q2 Trends: Stable H&A, B2B sales slowing

Whirlpool is fined $11.5 mln by US agency over hazardous cooktops

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WhirlpoolĀ agreed to pay an $11.5 million civil fine to resolve U.S. Consumer Product Safety Commission charges that it failed to immediately report that its glass cooktops could turn on by themselves, posing burn and fire hazards.

The settlement covers 17 models of electric radiant heat cooktops under the JennAir, KitchenAid and Whirlpool brands.

According to the CPSC, many consumers told Whirlpool beginning in November 2017 and continuing into 2019 that their cooktops were turning themselves on, a defect that could create an unreasonable risk of serious injury or death.

Faber Vertical Pro

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The new Vertical Pro range of hoods by Faber S.P.A. ā€“ our latest designer wall hoods that pack a punch thanks to their high performance.

The sturdier and wider body of the Vertical Pro range of hoods ensures a more powerful engine and also makes cleaning easier. This is because it facilitates a double suction system and a single grease filter. Small innovations that bring big and lasting benefits to the kitchen.

The Vertical Pro range is also the new angle on black. There are three different versions of black hoods to choose from: True Black, True Double Black and Pure Black ā€“ giving ample options to those who love black design.

Tineco @IFA 2023

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Get ready to be amazed at our core product launch at IFA2023 Stay tuned for an exciting teaser unveiling a smarter future.
Be the first to witness the unveiling of a game-changing Tineco innovation that will transform the way you maintain your home or workspace.

Miele achieves its own climate target earlier than planned

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Miele was able to reduce its direct and indirect CO2 emissions by 52% in 2022 compared to 2019 – while at the same time increasing its production volume. These and many other key figures are presented by the GĆ¼tersloh-based family-owned company in its sustainability update published today. This puts Miele ahead of its self-imposed target of reducing its own emissions (Scope 1) and those for energy deliveries (Scope 2) by 50% by 2030 compared to 2019. Thanks to its particularly energy-efficient appliances, Miele is also ahead of plan with 8.2% savings in the use phase of its products In addition, Miele has begun construction of a geothermal plant at its headquarters in GĆ¼tersloh. The aim of the project, for which a total of 175 special boreholes are being drilled, is the renewable generation of heat and cooling for Mieleā€™s administrative buildings. This will save the company more than four million kilowatt hours of heat per year from fossil sources – and thus around 600 tonnes of CO2.

SharkNinja Reports Second Quarter 2023 Results

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Highlights for the Second Quarter 2023 as compared to the Second Quarter 2022

Net sales increased 22.1% to $950.3 million and Adjusted net Sales increased 19.7%, both driven by strong sales of recently launched products in the outdoor cooking and beauty categories.
Gross margin and Adjusted Gross Margin increased 430 and 370 basis points, respectively, as we benefited from cost tailwinds including inbound freight costs.
Net income decreased 27.6% to $11.9 million. Adjusted Net Income increased 40.4% to $65.2 million.
Adjusted EBITDA increased 40.0% to $113.6 million, or 12.5% of Adjusted Net Sales Cleaning Appliances net sales increased by $2.6 million, or 0.6%, to $413.8 million, compared to $411.2 million in the prior year quarter, driven by growth in the multi-floorcare sub-category and by new product innovation. This increase was partially offset by softness in the North America market, specifically in corded vacuums as consumers shifted towards cordless.
Cooking and Beverage Appliances net sales increased by $139.0 million, or 68.1%, to $343.1 million, compared to $204.0 million in the prior year quarter. This increase was driven by growth in Europe, specifically in the United Kingdom, where we further strengthened our leading market position. Our global growth was also supported by the full quarter of sales of our outdoor grill that launched in the second half of 2022, which continues to perform well across the US and European markets.
Food Preparation Appliances net sales increased by $5.7 million, or 4.1%, to $143.4 million, compared to $137.7 million in the prior year quarter driven by strong sales from our ice cream makers.
Other net sales increased by $24.8 million, or 98.3%, to $50.0 million, compared to $25.3 million in the prior year quarter. This increase was driven by continued strength of the Shark FlexStyle, our new product launch in the beauty category at the end of 2022.

Samsung to unveil a food integration platform at IFA 2023

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IFA 2023 event, which isĀ Europe’sĀ largest consumer electronics exhibition, Samsung is all set to unveil a new food integration platform called Samsung Food. Samsung Food will incorporate artificial intelligence (AI) to provide a personalized food experience to Samsung home appliance users. IFA 2023 will be held in Berlin,Ā on September 1.

Samsung FoodĀ will provide personalized functionsĀ that will help in catering to a user’s dietary life, including recipe research, storage, meal planning, preparation of food, cooking, and content sharing, all via a single platform. Users will be able to linkĀ SamsungĀ Food to their kitchen appliances, such as the Family Hub Refrigerator and the BESPOKE AI Oven.Samsung Food is designed in such a way that it will help make meal preparation easier and also give access to around 160,00 recipes. Moreover, it will use AI to detect the ingredients available in your fridge and show personalized food recommendations. Interesting recipes can be saved in the ā€˜My Recipes’ section. Samsung Food app will also help with your cooking based on your skill level. For example, it will give you cooking instructions based on cooking difficulty, cooking time, and your free time availability. The platform will also connect customized recipes with kitchen appliances. So, the cooking values of a customized recipe will be shared with the Bespoke Oven so that the user does not have to set the cooking temperature and other values separately.

Samsung Food is available on mobile and on the Family Hub of Bespoke Refrigerators. However, do note that the personalized recipe function in the Family Hub will be updated within the year. The company also plans to link Samsung Food and Samsung Health within this year so that users can manage meals based on their health preferences.