Whirlpool Corp. (WHR): Goldman Sachs Labor Day 2026 Appliance Pricing Update

Key Takeaways

• 1.Net industry appliance pricing rose 501bps YOY around Labor Day 2026, moderating from +702bps over Fourth of July, driven by list price increases as manufacturers offset rising input costs and tariffs.
• 2.Promotional discounts expanded sequentially by 105bps to 21.6% across major retailers but were down 267bps YOY, reflecting retailers' attempts to drive foot traffic amid subdued consumer demand.
• 3.Whirlpool saw discounts rise 226bps sequentially to 20.5% (down 221bps YOY) while list prices grew 1.9% YOY following its 4% list price hike implemented on July 9, 2026.

Table of Contents

• Modest Deceleration in Net Price as Industry Navigates Challenging Backdrop
• List Price Increases Driven by Manufacturers' Actions and Newer SKUs
• Key Data
• GS Forecast
• GS Factor Profile
• Ratios & Valuation
• Growth & Margins (%)
• Price Performance
• Income Statement ($ mn)
• Balance Sheet ($ mn)
• Cash Flow ($ mn)
• Inventories Similar to Fourth of July as Products Transition
• Valuation & Risks
• Price Leads Net Gains as Industry Looks to Offset Inflation Amidst Weak Demand
• Discounts Rise Sequentially Given Competitive Pressures But are Down Meaningfully YOY
• Tough Comps Reflected in Number of SKUs with Rising List Prices vs 2025
• Price and Promotion Support YOY Gains on Net Basis
• Cost Update: Monitoring Input Costs and Tariffs
• Key Input Costs Remain Elevated
• Logistics Costs Modestly Off Their July Peak

Report data

Exhibit 2: Average Discount by Manufacturer and Product Category — as of September 4, 2026.