United Kingdom

Husqvarna says sales to be hit as cuts business with U.S. customer

Monday, 16 Oct 2017 

Oct 16 (Reuters) - Husqvarna AB :Husqvarna group scales back business with large U.S. retail customer.Says ‍division has started to adjust capacity and other measures to mitigate short-term negative financial effects​.Says ‍because of reduced volume, consumer brands division's net sales for 2018 is expected to decline by some SEK 1 bn compared to 2017​.Says ‍this will delay operating income improvement trajectory.​.Says ‍group's financial target of an operating margin of at least 10 pct for coming years remains unchanged​.