Top Companies are Racing to Ensure There’s Plenty of Hand Sanitizer Supply

April 21, 2020 - Baystreet.ca


When it comes to safeguarding against COVID-19, we’ve been advised to use hand sanitizer.

In fact, the U.S. Center for Disease Control (CDC) has strongly recommended using hand sanitizer with at least 60% alcohol to help kill the virus. With that advise, demand has far outweighed supply. So much so, retailers can’t keep product on shelves. As shortages worsen, it’s unclear in some cases where additional supplies can be found. As a result, companies are racing to meet demand needs as quickly as possible.

According to Fior Markets, “The demand for hand sanitizers are increasing, with the growing coronavirus crisis rapidly across the globe. With the outbreak of the global pandemic, the need for hand sanitizers has quadrupled and an increase in the overall growth of 16x from December 2019 to March 2020.” Some of the top companies racing to keep product on shelves include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Clorox Co. (NYSE:CLX), Kroger Co. (NYSE:KR), Kimberly Clark Corp. (NYSE:KMB), and Johnson & Johnson (NYSE:JNJ).

The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWSThe Yield Growth Corp.  announced that its Urban Juve hand sanitizer spray is now available for pre-order in Canada online at UrbanJuve.com. Manufacturing is set to begin by the end of April in Canada and products are expected to begin shipping in May. Retail orders are now being accepted by Urban Juve for stores in Canada.

"Given the urgent need for this product to help combat the spread of COVID-19, our team moved mountains to bring it to market in record time,” says Tamara Melck, Yield Growth Chief Operating Officer. “The team’s passion and heart for getting more sanitizer into the hands of those who so desperately need it galvanized their hard work and tireless efforts. We are all proud and grateful to play even a small role in keeping people healthy and safe during this crisis.”

The hand sanitizer market is expected to grow at a CAGR of over 17% between 2019 and 2025 according to a new report from Aritzon, with sales this year expected to reach US $11 billion in 2020, a 600% increase over last year. Alcohol-based hand sanitizers are set to become a standard household good. Yield Growth plans to donate 1,000 units of its first run of hand sanitizers to health care workers on the front lines from the first production batch.

Other related developments from around the markets include:

Clorox Co. (NYSE:CLX) announced the election of Kathryn (Kathee) Tesija to its board of directors, effective May 18, 2020. Tesija previously led all merchandising and supply chain efforts for Target Corporation. "As a longtime enterprise leader in the retail industry, Kathee will add valuable perspectives to our board," said Clorox lead independent director Pamela Thomas-Graham. "In addition, her expertise in digital, innovation, marketing and consumer behavior will help us in our efforts to drive our strategy of innovating brands and shopping experiences and ultimately enable us to better serve people." Tesija, 57, has been a senior adviser and consultant at Simpactful LLC, a CPG/retail consultancy firm, since 2016. Previously, she served as executive vice president and chief merchandising and supply chain officer for Target Corporation, the second-largest discount retailer in the United States, from 2008 to 2015. In this role, she oversaw all functions of product design and development, sourcing, merchandising, presentation, inventory management, operations, and global supply chain for Target.com and nearly 1,800 retail stores. During her tenure at Target beginning in 1986, she served in numerous positions of responsibility, including director, merchandise planning; senior vice president, hardlines merchandising; and strategic adviser.

Kroger Co. (NYSE:KR) announced the acceptance of Supplemental Nutrition Assistance Program (SNAP) benefits for Pickup. The low-contact, convenient service allows customers to shop online for groceries on Kroger.com or the Kroger app and pick up their order curbside at a nearby Kroger store. "Kroger is rolling out a payment capability across our nearly 2,800 grocery stores to allow more customers to access fresh, affordable food and essentials through our Pickup service," said Rodney McMullen, Kroger's chairman and CEO. "We are committed to supporting all families as we work together with our associates and communities and government agencies and health organizations to flatten the curve during this unprecedented pandemic."

Kimberly Clark Corp. (NYSE:KMB) announced that it will host its 2020 annual meeting of stockholders virtually due to the public health impact of the coronavirus outbreak (COVID-19) and to protect the health and well-being of our employees, stockholders, and our community. The annual meeting will be held over the internet in a virtual meeting format only. Stockholders will not be able to attend the meeting in person. The date and time have not been changed, and the meeting will continue to be held on April 29, 2020 at 9:00 a.m. Central Time. Stockholders who owned shares at the close of business on the record date of March 2, 2020 are entitled to attend, participate, view the stockholder list and vote at the annual meeting. The items of business are the same as set forth in the meeting notice previously provided to stockholders.

Johnson & Johnson (NYSE:JNJ) announced that its Board of Directors has declared a 6.3% increase in the quarterly dividend rate, from $0.95 per share to $1.01 per share. “In recognition of our 2019 results, strong financial position and confidence in the future of Johnson & Johnson, the Board has voted to increase the quarterly dividend for the 58th consecutive year,” said Alex Gorsky, Chairman and Chief Executive Officer of the company. At the new rate, the indicated dividend on an annual basis is $4.04 per share compared to the previous rate of $3.80 per share. The next quarterly dividend is payable on June 9, 2020 to shareholders of record as of the close of business on May 26, 2020. The ex-dividend date is May 22, 2020.

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