Maytag Says Earnings Won’t Meet Forecasts

Maytag Corp. warned that its earnings would be down 8% to 10% in the second half, from $1.74 a share a year earlier, due to the loss of business at Circuit City Stores Inc. and Heilig-Meyers Co. stores. Newton, Iowa-based Maytag, maker of refrigerators, clothes washers and Hoover vacuum cleaners, said it now expects earnings per share in the mid-70-cents range in its third quarter and in the low-to-mid-80-cents range in its fourth quarter. Analysts had expected Maytag to earn 96 cents a share in its third quarter and 97 cents in its fourth quarter. Maytag shares fell 56 cents to close at $35.81 on the NYSE.