(Reuters) – Sweden’s Husqvarna said on Tuesday it expects a 5% decline in its third quarter organic sales due to restrained consumer spending.
The garden equipment and tools maker saw a slump of 9% in last quarter sales and has now accelerated its cost savings programs.
The company benefited from the home improvements trend during the pandemic, but saw demand softening last year, as high inflation took a toll on consumer spending.
(Reporting by Urvi Dugar; Editing by Chris Reese)
