|Ladies and Gentlemen:
I would like to add some additional comments to my August 13th letter below.
Business conditions remain challenging. Nevertheless, we are doing everything possible to build up our inventory and reduce our lead times. It will take many months to get our performance back to where it should be, as we simply can't produce and get containers fast enough.
Container availability remains our biggest bottleneck with limited capacity, which is driving up costs from just a few weeks ago. Due primarily to this, we must pass along another price increase to help cover some of our cost increase. This increase averages out to 5.6% overall. We review this item by item with all costs reviewed. Please see the price changes and new price list linked here. This new price list is effective September 7th.
I know business is difficult at retail also, and the frequent price changes are tough to manage. We are not passing along these cost increases without great thought as our aim is to be the best vendor partner possible.
Thank you for your patience and your business.