Sonos Reveals Manufacturing Shutdowns, As Supply Dries Up
Sonos is among the many companies who haven’t been able to supply retailers with enough of its products due to the ongoing supply chain crisis.
“The global supply situation has only continued to get more challenging,” Sonos CFO Brittany Bagley told investors on an earnings call.
“As a result, we are anticipating that our [holiday] quarter revenue could be lower than last year.
“We have been so short on some components that we have had manufacturing shutdowns.”
Bagley made sure to tell investors that demand for Sonos is still there.
“Our customers have proven that they will wait for our products despite supply constraints.”
The company will also be cutting costs in the promotions department, nixing their usual holiday push.
“Because of the supply constraints, we won’t be running typical promotional environments,” Bagley said.
CEO Patrick Spence also looked on the bright side.
“We are confident that we can sell every unit that we can make this year,” he told investors.