Appliance maker Whirlpool has posted third quarter results that managed to beat Wall Street estimates, even though these estimates were conservative predictions based on Whirlpool’s timid guidance. Even then, Whirpool’s increase in profits came together with a decrease in revenue, which can only mean that cost-cutting measures created the profit.
In the last quarter, Whirlpool was forced to shut down an Evansville, Indiana plant, eliminating 1,200 jobs as part of its cost-cutting measures. It may have come as no surprise to the plant’s employees, though, as Whirlpool announced last year that it would need to cut around 7 percent of its …read more

Cosmetics giant Estee Lauder has stated that it expects its quarterly profit to be much higher than it had originally predicted and will post a boosted fiscal-year forecast later this month. The company’s decision comes after an unexpected increase in sales figures, sending Estee Lauder’s shares up 5 percent.
However, Estee Lauder, which is best known for its Estee Lauder line and its brands such as Clinique, still expects that slow consumer spending will keep its results in check and will remain cautious.
As consumer spending has fallen, Estee Lauder has struggled as more consumers shy away from spending on products that …read more