Whirlpool CFO says appliance demand hasn't been this low since 'the great financial crisis'

May 7, 2026 - 02:08

Whirlpool's chief financial officer said demand for major appliances has not been this weak since the 2008 financial crisis, as wary consumers pull back on big-ticket purchases. In the first quarter, sales of dishwashers, refrigerators, and other large home goods in the United States and Canada hit what the company described as "recession-level lows."

The downturn comes as consumer confidence remains historically low, making people hesitant to spend on discretionary items. The CFO noted that shoppers are delaying kitchen and laundry upgrades, choosing instead to repair older units or simply go without. This marks a sharp contrast from the pandemic-era boom, when home improvement spending surged.

Whirlpool's warning adds to a growing list of signals that the broader economy is cooling. The appliance maker is now bracing for a prolonged slump, with no clear sign of a rebound in the near term. While the company has cut costs and adjusted production, executives acknowledged that the current environment feels eerily similar to the depths of the last major financial crisis.