Maytag Shares Tumble On Lower Sales, Higher Costs

A week after Maytag announced a recall of more than 636,000 vacuum cleaners, the company reported that its first quarter sales were down 80% and that costs were higher than expected.

Investors punished the stock today, dropping the share price 28%, the lowest that price has been in more than a decade. The company warned investors that its future earnings would be lower.

Despite the massive recall, the company's web sites still do not include recall information even when selecting customer service options.

posted by Consumer Help Web Editorial Team at 5:04 PM |