Hey, Instant Pot Owners!
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The company’s net sales decreased 21.9% in the first quarter this year compared with the same period in 2022, the seventh consecutive quarter of declining year-over-year sales, S&P Global said in a ratings downgrade of Instant Brands last week. The company ended March with roughly $95 million in liquidity and the business hasn’t been generating cash, according to the ratings report.
“Instant Brands’ performance continues to suffer from depressed consumer demand due to lower discretionary spending on home products, lower retailer replenishment orders for its categories, and some retailers moving to domestic fulfillment from direct import,” the S&P report said.
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I single-handedly took them down with my excoriating 1 star review. But they brought it on themselves. I was only the messenger of their downfall.
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I know my stoner brother gave them a really bad review…It wasn’t what he expected at all…
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