What do Peloton, Zoom, DocuSign, Amazon, Netflix and Clorox have in common?
Yeah, you guessed it, they have all thrived during the coronavirus pandemic. The first five companies you can measure their growth in stock price and market cap, with Clorox, you can track their success by the amount of disinfectant wipes they are producing, and the number is staggering.
To say there is an increased demand is an understatement, as CEO Linda Rendle told CNBC.
“Last quarter, we made about 1 million canisters of wipes and were getting them to stores every single day. This quarter, we’re up to 1.5 million canisters per day, and we’re going to continue to expand that as we bring new capacity online through the next few months.”
Clorox products were part of the stockpiling frenzy going on at the early stages of the pandemic, and as hard as the company is working to meet the crazy demand, their availabilities are going to be limited for at least a few more months.
The company is forecasting a 10% – 13% bump in sales in 2021, primarily because habits of consumers have changed since COVID first hit. Sanitation is a bigger priority now. “That’s true here in the U.S. but really around the world. People are adopting cleaning as more of a thing around safety and wellness, not just a chore,” said Rendle.
Clorox stock was trading at $187.05 on Friday, a 13.5% bump from a year ago.