Maytag to No Longer Sell Appliances at Best Buy
Jan 19, 2005
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Maytag Corporation announced that it will no longer sell Maytag-branded major appliances at the specialty retailer, Best Buy.
The U.S. appliance maker will continue to sell its Hoover floor care products at Best Buy, which it says remains an important floor care customer.
"We have a good business relationship with Best Buy. However, our white goods business with the specialty retailer has significantly declined over the years," said Ralph F. Hake, Maytag chairman and CEO. "At this time, it does not make sense to continue selling our major appliances at Best Buy."
Mr. Hake added that sales of major appliances at Best Buy have significantly declined over several years. In 2004, they represented about 1 percent of Maytag's consolidated revenue.
The discontinuation will become effective later in the first quarter 2005.
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