sanitizing wipes factory Clorox CEO Linda Rendle told CNBC on Friday that the company has been increasing its production of disinfectant wipes to meet the increased demand brought about by the global Covid crisis, and it is now in its second year.
“Last quarter, we produced about 1 million cans of wet wipes and delivered them to the store every day,” Lundell said on the “closing bell.” “This quarter, we can produce up to 1.5 million cans per day, and we will continue to expand this scale as new capacity goes online in the coming months.”
During the pandemic, consumers stocked up various cleaning products, and despite efforts to increase manufacturing, it resulted in a shortage of Clorox wipes and other items. In December, Eric Reynolds, chief operating officer of Clorox, told NBC News that limited availability may continue until “mid-2021.”
After releasing its quarterly earnings report earlier this month, Clorox raised its full-year revenue forecast. The company now expects sales to increase by 10% to 13% in the 2021 fiscal year, which is higher than the previous forecast of 5% to 9%.
The number of coronavirus cases has declined recently and the Covid vaccine has become more accessible, prompting people to be optimistic that the acute phase of the pandemic will soon pass. But for Clorox, Rendle said that part of the reason for the optimistic income outlook is that people’s perceptions of sanitation have changed due to the health crisis.
“This is true in the United States, but it is true all over the world. People increasingly see cleaning as a matter of safety and health, not just a chore,” Lundell said in September Took over as CEO of this household goods manufacturer. She has been the president of Clorox.
Before the coronavirus pandemic, a trend in the cleaning products industry was to promote greater sustainability and transparency. To this end, Clorox launched a compostable cleaning wipe in January 2020. However, Rendle said that because of Covid, production must be stopped because products that can be produced more quickly have received greater attention.
“We will bring back those compostable wipes, and as we move forward, we expect it to become a large part of our product portfolio,” she said.
Clorox shares fell 1.37% on Friday to $187.05 per share. The stock price of the Oakland, California-based company has risen 13.5% in the past 12 months.
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Post time: Nov-14-2021