Tariff Quote Watch: “Tariffs Suck” for iRobot’s Vacuums, Prices Rises Cut Demand — Panjiva


Tariff Quote Watch: “Tariffs Suck” for iRobot’s Vacuums, Prices Rises Cut Demand

China 1758 Industrials - Capital Goods 265 Tariff Quote Watch 91 Tariffs 1169 U.S. 3297

Vacuum cleaner manufacturer iRobot has struck a cautious tone regarding the impact of tariffs. CEO Colin Angle has stated “Tariffs suck. In Q4 we absorbed the cost of the tariffs”. That resulted in $5 million of extra costs in 4Q, equivalent to 16.7% of consensus forecast pre-tax profits if continued in 2019. The firm does plan to increase prices though Angle said “the growth rate of the industry is going to be negatively impacted.” The need for price rises will therefore on whether talks between the U.S and China, which continue from Jan. 30, reach an agreement t...

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