Audio – How bad? Bad.
The state of the U.S. economy has been much on the minds of all our guests at this year’s Reuters Consumer and Retail Summit.
Most of them tried to put on a brave face about the current state of play, but Whirlpool’s North America President, Michael Todman, gave what to us sounded like a pretty accurate assessment of how stretched the U. S. consumer seems and when he sees a turnaround.
Whirlpool, which is still integrating all the parts of its Maytag acquisition, is in an interesting spot, because they have felt the brunt of the crumbling U.S. housing sector and then got a double whammy from the cut in U.S. discretionary spending.
Todman comes across as an optimist though, and sees Whirlpool well positioned to get through these recent problems and feels his brands will augur well for long-term growth.
Todman was one of the featured guests at this year’s retail jamboree — which continues through Thursday in London and New York.