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CORRECTED-Whirlpool to stop selling big-name brands at Sears

CORRECTED-Whirlpool to stop selling big-name brands at Sears
From Reuters - October 24, 2017

(Reuters) - Whirlpool Corp (WHR.N) said on Tuesday it would continue to supply several of its products to Sears Holdings Corp (SHLD.O) and discontinue only the supply of brands including Maytag fridges, KitchenAid products and Jenn-Air appliances.

Whirlpool shares were trading down 10 percent, while Sears rose marginally.

The U.S. appliance giant on Monday reported third-quarter profit and sales below analysts estimates, hurt by higher raw material prices which are expected to rise through 2018.

On a post-earnings call, Whirlpool said it had informed Sears in May that it would no longer supply its brand products to the appliance retailer as the companies were unable to agree on terms.

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