Pandemic Delaying IRobot’s Malaysia Transition, Boosting Other Business

pandemic delayed iRobot’s “original plans” to shift most U.S.-bound production to Malaysia by the end of 2020 to reduce or eliminate its Chinese tariff exposure, instead pushing the move “well into 2021,” he said. The stock closed 13% lower at $83.48, a day after reaching a 52-week high of $98.55. Work and learning from home helped drive 43% Q3 revenue growth, said Angle. “The pandemic has impacted individuals and families in profound ways with the home becoming a primary hub for work, education, exercise, entertainment and more.” IRobot took part in its sixth straight Prime Day event last week, said Angle: “Despite the change in Prime Day from its usual timing in early July, it was a solid event.“ IRobot "is cautiously optimistic for a strong fourth quarter,” said Chief Financial Officer Julie Zeiler. “It remains to be seen how the pandemic, an uncertain economic environment and the shifting of an event like Prime Day from July to mid-October will influence the holiday gift-giving season.” The “incredibly challenging period” forced iRobot to make supply-chain “adjustments” to “keep up with demand,” said Zeiler when asked about a notice on the company’s online store it's experiencing shipping delays. “Given all of the growth, there is occasionally a situation on our website where shipping is delayed,” said Angle. “We have the systems in place to make those types of disruptions very short.”