Sonos Slaps $100 Discounts on Holiday Speaker Promotion

Sonos is selling speaker bundles as part of its $100-off holiday promotions, including an indoor/outdoor bundle combining One and Move ($498) speakers. A multiroom entertainment set bundling an Arc sound bar and Move is $1,098. Other $100-off deals include a stand-alone Move to $299, the Beam sound bar ($299) and the Sub ($599). Sonos Chief Financial Officer Brittany Bagley said on a recent earnings call (see 2011190057) that the company began discounting for the holidays earlier than usual this season consistent with what “other partners and retailers are seeing.” She predicted “less back-end loading” this quarter than in previous holiday quarters. Sonos expects the holiday quarter to contribute less total revenue as a percentage of the total fiscal year than last year, said Bagley, citing supply chain constraints. The company is feeling impacts from component and container availability, port congestion and higher shipping and logistics costs, she said.