Consumer Staples

Kimberly-Clark To Raise Prices on Toilet Paper, Facial Tissues, Diapers

Reuters | |

Kimberly-Clark Corp said on Wednesday it would raise prices on many of its products including Scott toilet paper, tissues and diapers in the United States and Canada to offset rising commodity costs.

The company saw its products roll off supermarket shelves as shoppers stockpiled essential staples ahead of curfews and lockdowns to stem the spread of COVID-19.

Leading Dollar Store Chains Report Surge in Quarterly Sales and Profit

Reuters | |

(Reuters) - The top two U.S. dollar store chains reported better-than-expected quarterly sales and profit on Thursday, benefiting from a surge in demand for affordable groceries and household essentials amid the COVID-19 pandemic. Designated as essential retailers, Dollar General Corp and Dollar Tree Inc were allowed to stay open while much of the United States remained shut under coronavirus lockdown measures, and the companies saw a rush in panic buying in late March and early April. Ris...

Nestlé Beats Estimates, Reports Best Quarterly Sales Growth in Nearly Five Years

Reuters | |

Swiss food giant Nestle reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled anything from Purina pet food to Nescafe coffee to frozen meals in preparation for coronavirus lockdowns. Sales in North America and Europe were particularly strong in March, helping to drive an overall rise of 4.3% in the first three months of the year, beating analyst expectations for a 3% increase. In North America, Purina P...

Walmart To Hire 50,000 Additional Workers To Meet Surge in Consumer Demand

Reuters | |

(Reuters) - Walmart Inc said on Friday it would hire 50,000 more workers at its stores, clubs and distribution centers to meet a surge in demand for groceries and household essentials from consumers stockpiling during the coronavirus outbreak. The retailer said it had reached its earlier target of hiring 150,000 workers six weeks ahead of schedule, taking in 5,000 people per day on average at a time when millions of Americans are losing their jobs amid unprecedented “stay-at-home” ord...

Procter & Gamble Profit Beats Estimates; Cites Consumers Stockpiling Spectrum of Products

Reuters | |

Procter & Gamble Co beat Wall Street expectations for quarterly profit on Friday as consumers stockpiled on everything from diapers and detergent to toilet rolls amid sweeping lockdowns to curb the spread of the coronavirus. Sales at P&G’s units that make well-known brands such as Bounty paper towels, Tampax tampons, Charmin toilet paper, and Pampers diapers rose between 6% and 8%, boosting the company’s shares in early trading. “The strong results we delivered...

Stocks Finish Modestly Higher, Pandemic Beneficiaries Lead Gainers

AP News | |

By Stan Choe, Damian J. Troise and Alex VeigaNEW YORK (AP) — Even in this new stay-at-home, increasingly jobless economy, some businesses are making out as clear winners, and gains for Amazon, health care companies and stocks in other pockets of the market helped prop up Wall Street Thursday. The S&P 500 rose 0.6% after flipping between small gains and losses following a government report that 5.2 million Americans filed for unemployment benefits last week. The report was universally rega...

Why Is Toilet Paper in Short Supply?

AP News | |

Here’s all you ever wanted to know about toilet paper during a pandemic.

Kroger Records Comparable Sales Up 30%, Borrows $1 Billion To Boost Reserves, Maintains Guidance

Reuters | |

"The COVID-19 pandemic triggered a significantly greater lift in sales across both physical retail stores and digital channels in March."

India Lockdown Disrupting Operations for Amazon and Walmart's Flipkart

Stephen L Kanaval | |

Alibaba-backed Big Basket was also not operational.

State Attorneys General Tell Amazon, Walmart, Facebook To Do More To Stop Price-Gouging

Reuters | |

A report by the U.S. Public Interest Research Group found nearly 1 in 6 of the products sold directly by Amazon had prices spike 50% higher than the 90-day average.

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