Husqvarna Q3 Beats Forecast, Sees Weak Demand Oct 27, 2008

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Husqvarna posted a smaller-than-expected fall in quarterly pretax earnings, but said it was braced for lingering soft demand.

Husqvarna reported a third-quarter pretax profit of 178 million Swedish crowns (approx. US$22.8 million).

But the company said retail inventories of its gardening products at the end of the quarter were lower than in 2007 and that retailers were likely to continue keeping stocks low. "In light of weaker consumer confidence and greater caution on the part of retailers, the group is not planning to build up inventories for the next season to the same extent as in 2007," the company said.

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