Whirlpool cuts profit outlook, reports loss from sale of Russian business

whirlpool said it lost $371 million in the second quarter stemming from the equipment maker’s exit from its business in Russia and a cut in its profit outlook for the year.

Whirlpool is one of hundreds of companies in the US and other Western countries that this spring said they would stop doing business in Russia altogether or reduce operations following Russia’s invasion of Ukraine in late February. Others are leaving Russia or McDonald’s Corp., Nike Inc. Cisco Systems Inc. and are planning to incorporate the retailer Hennes & Mauritz AB.