Deere Says November Retail Sales Topped Expectations

Deere & Co., the world’s largest maker of farm equipment, said retail sales of its machines to farmers were better than expected in November.

“As we moved out of October and into November we have seen actually a pickup in the pace of retail activity and it actually influenced our outlook a bit,” Marie Ziegler, vice president of investor relations, said today on a conference call. “So we’re maybe a little more positive than we would have been a few weeks ago.”

Deere earlier today forecast 2010 profit that trailed analysts’ estimates as the recession reduces demand from growers in North America and Europe.

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- Posted: 2009-11-25 12:11:48

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