Cost of shipping a container from Asia jumped over 500% since last year, Traeger Grills CEO says [CNBC]
Traeger, Inc. (COOK)
Company Research
Source: CNBC
Traeger's average cost to ship a 40-foot container to the U.S. from Asia is almost $10,000, up from $1,500 a year ago, he said. “Our inventory is big and heavy ... so we are particularly sensitive to transportation costs,” he said. Traeger CEO Jeremy Andrus told CNBC's Jim Cramer on Monday that rising shipping expenses were a major reason for the grill maker's declining profit margin in its third quarter. “Bringing a 40-foot container from Asia to the U.S. 12 months ago was about $1,500. Today, you're spending upwards of $30,000 and we're certainly averaging close to $10,000,” Andrus said in an interview on “Mad Money.” “Our inventory is big and heavy. It takes up a lot of container space, and so we are particularly sensitive to transportation costs,” added Andrus, whose comments offer insight into how large-scale supply chain issues during the Covid pandemic weigh on individual companies. Traeger saw an 11.7% year-over-year increase in sales in its third quarter, as it recor
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