In the past there has been 300 different companies in the home appliance industry and now there is only a couple left. The problem with the consolidation is now it is more competitive then ever before. The way Maytag survived the fierce competition is through their high quality of products and acquisitions. Maytag is a big company but it only has 21.6% of the market share. Maytag has huge competitors like Whirlpool with 39.2% and GE with 23.2%. The way Maytag is getting more market share is by acquisitions and that accounts for 1% each year. Maytag purchased Jade Range and Dynasty so they can expand pass the home appliances and into the commercial side of the appliances. .
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Maytag has been growing steadily from 3 billion dollars in 1991 to 4.7 billion dollars in 2002. They showed a net loss in 1995 due to the Hoover international experience and making all the plants up to date to make quality products. They sold the plants for less then what they paid for. Over the past 2 years operation income has dropped over 283.5 million dollars due to making the plants more high tech to produce more and better products. Maytag's net sales are still increasing but the stock has dropped $23.93 dollars over the past 3 years. The stock has dropped due to the company has had three CEO's within the past 3 years. Now they have found the right man which is Ralph Hake. Maytag will now pick up where Leonard Hadley left off. Lloyd Ward put the company in a bad position and they realized that in time and brought back Hadley just for temporary until they found Hake. In 2002's first quarter Hake brought the earnings per share up 63% from last quarter. In 2002 they made 47.7 million dollars for net income. The company is making money and is not done growing.
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Threats.
• Big competition Whirlpool, General Electric, Aba Electrolux .
• Going international.
• Three CEO's within three years.
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