Clorox, the world's biggest maker of disinfectant cleaning materials, said consumers will continue to see a shortage of its wipes and other products into 2021 because of overwhelming demand during the pandemic.
While all kinds of disinfectant products have been flying off store shelves since March, wipes have been in especially high demand with consumers.
Clorox (CLX), which dominates the $1 billion disinfectant wipes market with a 45% market share, said it has aggressively ramped up production for its cleaning products, but it still won't be enough.
"Given the fact that cold and flu sits in the middle of the year, and then we expect the pandemic to be with us for the entirety of the year, it will take the full year to get up to the supply levels that we need to be at," Clorox President and CEO-elect Linda Rendle said Monday in a call with analysts to discuss the company's earnings.
Separately, Clorox's outgoing CEO Benno Dorer told Reuters that Clorox wipes, specifically, will be in short supply until next year.
"Frankly, we thought we would be in a better position by now, but demand in Q4 exceeded our expectations," Dorer told analysts. "We're certainly not at all happy with our service levels for our retail customers on many products. We have a high sense of urgency on this with all hands on deck."
Still, the pandemic-fueled run on disinfectant products boosted overall company sales by 22% in the quarter.
See all the news
Franco Frattini - Georgia, straying from the rule of law
Letter to the Newsweek Editor: 'Russia Determined to Wield Power in Georgia'
Caspiannews: Georgia’s Actions to Seize Foreign Company Disrupt Telecommunications Corridor Between Europe & Asia
Turkish cable manufacturer Koc Kablo has opened its first factory in Georgia
TBC Bank announces management change
Oil prices fall further on virus fears, U.S. crude stock build
Update on Shuakhevi HPP
Turkey to open doors to 31 countries for health tourism
Statement by Andrius Kubilius on the EU assistance for Georgia
Wine sales have increased 5 times in the UK - Georgian-British startup
Russian Church, which priest tested positive for coronavirus is closed for several days
S&P: Georgia Heads Toward Recession
Gurian Tea "Gamarjoba" will Appear on the Market from September
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
www.stopcov.ge is accessible in minority languages
TBC Bank and OPEC Fund sign a $50 million trade finance loan agreement
How will Nenskra HPP Reduce the Electricity Import?
JSC Nenskra Hydro Shifts to Remote Work
Wizz Air suspends all flights from Georgia to Europe except Budapest