The world's second-largest home appliances manufacturer after Whirlpool said, "market demand for core appliances in Europe and the US so far in the third quarter is estimated to have decreased at a significantly accelerated pace compared with the second quarter, driven by the impact of high inflation on consumer durables purchases and low consumer confidence." 

It noted: "High retailer inventory levels have amplified the impact of the slowdown in consumer demand." 

Remember, there's a massive inventory glut of consumer goods at retailers.