Clorox CEO-elect says company is making 1 million wipes packages a day
Store shelves won't be fully stocked with its products until 2021 due to a supply shortage
Disney sees streaming boom; Clorox wipes still MIA
Fox Business Briefs: Disney's three major streaming services Disney Plus, Hulu, and ESPN Plus surpass 100 million paid subscribers; Clorox says that grocery store shelves won't be fully stocked with its disinfectant wipes until 2021.
Clorox CEO-elect Linda Rendle said Monday that the company is "making more disinfecting products that we ever have before" in an effort to keep up with demand during the coronavirus pandemic.
"Since January, we're able to make 100 million more disinfecting products than we did before, that's a 50% increase," Rendle told Good Morning America's Robin Roberts. "And specific to wipes, we're making nearly 1 million packages every day and shipping them to stores."
The company recently warned that store shelves won't be fully stocked with their products until next year as the pandemic has led to a supply shortage.
CLOROX WIPES SHORTAGE EXPECTED TO CONTINUE UNTIL 2021 AS CORONAVIRUS DRIVES DEMAND
"Disinfecting wipes, which are the hottest commodity in the business right now, will probably take longer because it’s a very complex supply chain to make them," outgoing CEO Benno Dorer told Reuters.
This July 15, 2011, file photo shows Clorox brand products line the shelf of a supermarket in the East Village neighborhood of New York. (AP Photo/Mary Altaffer, File)
In order for consumers to be notified when cleaning products are available for purchase, Rendle noted that there are many stores where customers can sign up for reminders online to find out when products are back in stock or that allow you to find stores with products in stock near you based on your zip code.
She also recommended calling store managers to understand when shipments arrive at their stores so you can plan your shopping trip accordingly.
In addition, Rendle said that there are other products available in stock right now on the company website, such as Clorox bleach, that customers can use as an alternative to disinfectant wipes.
"We have many tips on how you can use that to disinfect surfaces all around your home," Rendle added.
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Clorox Co. reported a 21.9% gain in sales for the fiscal fourth quarter as consumers have been stocking up on cleaning products during the pandemic. Sales in Clorox’s health and wellness segment, which includes disinfecting products in addition to vitamins, rose 33 percent.
The company posted fiscal fourth-quarter sales of $1.98 billion, up from $1.63 billion in the comparable period last year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CLX | THE CLOROX CO. | 164.78 | -0.25 | -0.15% |
Rendle, a 17-year veteran of the company, is set to be promoted to CEO and elected to the company's board of directors in September, while Dorer will continue serving as the board's executive chair.