By Anthony O. Goriainoff
Shares in France's Groupe SEB fell after it cut guidance for the year on softer-than-expected business in Europe and uncertainty in the U.S.
Shares in the domestic-appliance maker were down 21% at 52.05 euros in morning trading in Europe.
Groupe SEB said it now expects operating results from activity--a key financial metric for the company--at 550 million to 600 million euros ($645.9 million-$704.6 million) compared with a previous expectations of 700 million to 750 million euros. It reported 802 million euros for 2024.
It also anticipates stable to slightly positive organic sales growth for the third quarter compared with 2% to 4% growth announced in July.
SEB said September was a key month in the third quarter as it marked the start of the high season but the expected intensity hadn't materialized as anticipated.
Business in Europe was softer than expected and it remained significantly affected in recent weeks in the U.S. by a wait-and-see attitude from consumer and professional customers, SEB said.
"The success of recent product launches, the continued good momentum in several European countries, the solid performance in Asia and the improvement in South America are not, in the short term, sufficient to offset these trends," the company said. "The group is fully mobilized to accelerate the conversion of identified opportunities and rapidly return to its profitable growth trajectory."
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
October 06, 2025 04:41 ET (08:41 GMT)
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