Clorox gains 15% sales amid coronavirus outbreak
Clorox has recorded a 15% increase in its sales as more people seek alternatives in preventing the spread of coronavirus.
The cleaning products retailer reported on Friday a net income of $241 million for its fiscal third-quarter.
Its assets also surged to $1.89 per share, while its premarket trading closed with a 3.6% spike.
Clorox Chairman and CEO Benno Dorer added that the company viewed “extraordinary growth” among other household products, including its lifestyle and dietary segment.
The Wall Street Journal anticipated in the company’s sales surge with more consumers buying cleaning products, such as bleaches and disinfectants, to keep their households free from the virus.
Other home-care products providers like Colgate-Palmolive Co had also reported an increase in its sales, especially in toothpastes and handsoaps.
Colgate-Palmolive expects the “additional volume” from the first quarter to come in future sales, as strong demands for sanitary products will retain even after the pandemic.