Hand sanitizer is still flying off shelves across the country.
In fact, thanks to COVID-19 panic buying, retailers are struggling to keep cleaning products on the shelves, most notably hand sanitizer. During the last week of Feb. 2020, for example, sales were up 300% year over year, reports CNBC. The first week of March 2020, hand sanitizer sales were up another 470% year over year. All as health officials around the world have told people to keep their hands clean at all times.
The Centers for Disease Control and Prevention for example says that when it comes to preventing the spread of coronavirus, “if soap and water are not readily available, use a hand sanitizer that contains at least 60% alcohol.”
In addition, 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 getting swept up with cleaning product demand The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Clorox Co. (NYSE:CLX), Kimberly Clark Corp. (NYSE:KMB), 3M Co. (NYSE:MMM), and Kroger Co. (NYSE:KR).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced that Health Canada has granted approval for Urban Juve’s liquid hand sanitizer to be manufactured in Canada. This approval was earned on March 27 2020 from Health Canada’s Natural and Non-prescription Health Products Directorate (NNHPD), issuing Product License NPN 80097926. The approval was granted within one week of the application being submitted. This fast track approval will allow Urban Juve to complete an initial manufacturing run more quickly than the estimated 60-day schedule announced last week.
To protect against coronavirus disease 2019 (COVID-19), the Center for Disease Control advises to clean hands often with soap and water for at least 20 seconds, or if soap and water are not readily available, to use a hand sanitizer with at least 60% alcohol. Urban Juve’s natural hand sanitizer liquid spray contains 65% alcohol, which is in line with Health Canada guidelines, and also has a refreshing and clean blend of peppermint, lavender and orange peel oils, all of which are known for their disinfecting properties and their ability to promote optimum skin health.
“We hope to have our hand sanitizer for sale direct to consumers on UrbanJuve.com within the next 30 days. This launch is a part of our efforts to meet the enormous and growing market demand for hand sanitizers as we battle the coronavirus in Canada,” said Penny White, CEO of Yield Growth.
According to Reportsnreports.com, the global market for hand sanitizers is anticipated to reach $5.5 billion by 2024, up from $2.4 billion in 2017. CNBC also reported that sales of hand sanitizers increased by 470% in the first week of March this year compared to the same week a year earlier. Fior Markets also reported that sanitizers from both pharmacies and supermarkets, as well as those available from online e-commerce channels such as Amazon and Flipkart are out of stock or for sale at inflated prices.
“I’m so impressed with the speed and efficiency with which Health Canada handled our application,” said White. “It's comforting to see governments taking fast action on this crisis, and we are tremendously thankful to all of the policy makers in Canada and all around the world who are working tirelessly to come up with policies to fight the health and economic crisis at hand.”
All packaging and raw materials have been secured for the initial production run. “We are also currently developing a gel hand sanitizer and intend to file a second Health Canada application shortly as well as an application with the FDA so that we will also be able to sell hand sanitizer in the United States,” said White.
“A time of crisis can be more than just a time of anxiety and worry. It is also an opportunity, a chance to make a difference and provide a solution to the world that has significance,” says Bhavna Solecki Yield Growth Director of Product Research. “We are committed to putting these products into the hands of all the brave and committed Canadians who are working to keep our food stores and pharmacies open, as well as the front line workers and care aides looking after elderly.”
Yield Growth intends to donate a portion of the hand sanitizers that it manufactures to workers on the front line. Yield Growth has already been donating self-care products to front line workers with over 500 products delivered to senior centers in the immediate area.
Other related developments from around the markets include:
Clorox Co. (NYSE:CLX) announced that its board of directors has declared a quarterly dividend of $1.06 per share on the company's common stock. The dividend is payable May 8, 2020, to stockholders of record as of the close of business on April 22, 2020. Clorox has a long history of providing value to its shareholders through regular dividend increases.
Kimberly Clark Corp. (NYSE:KMB) announced it has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World's Most Ethical Companies. "At Kimberly-Clark, we are inspired to make lives better for people all around the world," said Jeff Melucci, Kimberly-Clark's General Counsel. "Being named to this list reflects the commitment of our global employees to our values of accountability and authenticity." "We take pride in conducting business with the highest ethics and an unwavering commitment to doing the right thing in all that we do," said Kurt Drake, Kimberly-Clark's Chief Ethics & Compliance Officer. "Our high expectations for compliance allow us to earn the continued trust of our customers, consumers and shareholders."
3M Co. (NYSE:MMM) Chairman and Chief Executive Officer Mike Roman delivered the following letter to William Barr, attorney general of the United States; Larry Hogan, governor of Maryland and chair of the National Governors Association; and Tim Fox, attorney general of Montana and president of the National Association of Attorneys General, highlighting 3M's actions to curb counterfeiting and price gouging of personal protective equipment during the COVID-19 pandemic. The letter also urges federal and state governments and law enforcement officials to continue to lead the fight, with 3M’s support and assistance, against those who are exploiting the crisis by marketing counterfeit products or gouging the public.
Kroger Co.’s (NYSE:KR) Board of Directors today declared a quarterly dividend of 16¢ per share to be paid on June 1, 2020, to shareholders of record as of the close of business on May 15, 2020. The company's quarterly dividend has grown at a double-digit compound annual growth rate since it was reinstated in 2006. The company continues to expect, subject to board approval, an increasing dividend over time. Kroger's capital allocation strategy is to use its free cash flow to invest in the business and drive profitable growth while also maintaining its current investment grade debt rating and returning capital to shareholders. The company actively balances the use of its adjusted free cash flow to achieve these goals.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of www.MarijuanaStox.com) and The Yield Growth Corp., Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for The Yield Growth Corp. We own ZERO shares of The Yield Growth Corp. Please click here for full disclaimer.
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