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This is an excerpt from Thursday s (3/12) Point of Sale retail supply chain newsletter sponsored by ArcBest.
Retailers are stuck between playing the ocean waiting game and ponying up for air cargo. The number of container ships in San Pedro Bay has hovered around 30 since the start of the year and levels remain stubbornly high. As of Wednesday, there were 31 at anchor. The CMA CGM Marco Polo with a capacity of 16,022 twenty-foot equivalent units (TEUs) has been stuck at anchor the longest, since Feb. 27. The median time a container ship spent anchored outside the port last week was just over 7.5 days before it could head to berth.
By Kim Bhasin, Jordyn Holman and Henry Ren (Bloomberg)
Overwhelmed U.S. ports, elevated freight costs and accidents that sent goods plunging to the bottom of the ocean are causing headaches for U.S. retailers already reeling from the pandemic.
From appliance makers to shoe brands and fitness equipment manufacturers, corporations of all sizes are reporting logistics struggles, especially on trans-Pacific trade routes. Although they haven’t yet translated into widespread sticker shock for consumers, the ongoing shipping issues threaten to disrupt inventories if they persist much longer.
“I don’t think we’re meeting everybody’s expectations today and frankly, we’re unlikely to. I doubt if anybody else is either importing products from Asia,” Crocs Inc. Chief Executive Officer Andrew Rees said on an earnings call this week. “Getting it through Long Beach and other ports, getting shipped to customers is really challenging right now. And that’s not an issue with p
U.S. retailers see millions in sales delays amid shipping logjam
BLOOMBERG
Mario Tama/Getty Images
Trucks stand prepared to haul shipping containers at the Port of Los Angeles, the nation s busiest container port.
Overwhelmed U.S. ports, elevated freight costs and accidents that sent goods plunging to the bottom of the ocean are causing headaches for U.S. retailers already reeling from the pandemic.
From appliance makers to shoe brands and fitness equipment manufacturers, corporations of all sizes are reporting logistics struggles, especially on trans-Pacific trade routes. Although they haven t yet translated into widespread sticker shock for consumers, the ongoing shipping issues threaten to disrupt inventories if they persist much longer.
U.S. retailers see millions in sales delays amid shipping logjam latimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from latimes.com Daily Mail and Mail on Sunday newspapers.
Nautilus feeling fit after record-breaking fourth quarter
Pandemic fuels demand for home fitness equipment
Published: February 24, 2021, 5:56pm
Share: Nautilus is headquartered in Vancouver. (Provided photo)
Vancouver-based home exercise equipment maker Nautilus posted a record-breaking fourth quarter earnings report Monday, capping off a year that saw a dramatic reversal of the company’s fortunes as the COVID-19 pandemic fueled consumer demand for home fitness options.
“Our fourth quarter was not just good, it was the best quarter in the company’s 35-year history,” CEO Jim Barr said in a Monday conference call with investors and analysts.
Nautilus’ direct and retail segments each saw their strongest-ever sales quarters. The combined sales figure was $189.3 million, an 81.7 percent year-over-year gain. Gross profit was $77.9 million, a 104.1-percent year-over-year gain. Net sales for the full year 2020 were reported at $552.6 million, compared with $309.3 milli