iRobot Sounds the Tariff Alarm on the Robotic Cleaning Device Industry
Competition alone couldn't knock iRobot (NASDAQ: IRBT) from its high-growth, high-profit trajectory, but the combination of new rival devices and spiking tariffs did the trick. The consumer robotic cleaning device giant recently lowered its 2019 outlook as the selling environment worsened in the second quarter.
The company still expects to sell many more Roomba and Braava products this year, but growth and profits will likely end up well below management's original projection.
Let's take a closer look.
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