As most U.S. citizens follow strict stay-at-home mandates amid the coronavirus pandemic, consumers are starting to embrace their inner chef.
And according to Whirlpool Corporation (WHR), which beat Wall Street’s expectations in the first quarter, it means one product in particular is getting a decisive boost.
“Stand mixers actually have probably, right now, the strongest sales growth of all our products,” Marc Bitzer, Whirlpool’s CEO told Yahoo Finance in an interview on Friday, explaining how the pop in sales was icing on the proverbial cake for the appliance giant.
“And not just baking. I mean, as you know, you can use a stand mixer for many other things,” Bitzer told The First Trade. “All of a sudden, people are baking again,” he added, admitting that the sales surge took the company by surprise.
“We, at the outset of the crisis, we weren’t quite sure what stand mixers would do throughout