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Bissell caught in LA container jam, more logistics diversification needed

Cons. Discr. - Durables 347 Corp - Ports 788 Corp - Shipping 816 Mode - Containerized 1277 Mode - Seaborne 1605 Quote Watch 265 U.S. 4649

The surge in shipping demand has doubled container dwell times at the Port of Los Angeles, leading Bissell’s CEO, Mark Bissell, to note that “arrivals at the ports are absolutely jammed up”. That raises the risk that imports to meet consumer demand for household appliances may end up arriving too late for seasonal sales. U.S. seaborne imports of vacuum cleaners climbed 73.2% year over year in October after a 50.1% jump in Q3’20. Bissell’s shipments rose by 32.1% while autonomous system supplier iRobot led with a 107.4% jump. Bissell has already been diversifying its logistics strategy to...

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