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iRobot sales, shipping surge on stay-clean-at-home demand

Cons. Discr. - Durables 347 Coronavirus 434 Earnings 496 U.S. 4649

iRobot reported revenue growth of 42.7% year over year in Q3, well ahead of the 9.0% increase expected by analysts. The vacuum cleaner manufacturer’s inventory balance also dropped to 75 days from 134 days of sales as demand surged in the wake of stay-at-home purchases. U.S. seaborne imports linked to the firm jumped 197% year over year in September and rose by 123% in Q3’20 overall. Total U.S. inbound shipments of vacuum cleaners climbed 50.0% including a 50.4% increase in shipments linked to Stanley Black & Decker. Not all suppliers have been successful though with Shop Vac related shi...

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