Diamonds and Dogs
Supermarket sales surge as consumers stockpile supplies. Krogers (KR) is up 6% as many supermarkets reporting record sales numbers selling out of a number of products including canned foods and many other essentials and paper products. Many consumer product companies have halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand. Brick-and-mortar retailers have warned that hoarding toilet paper, cleaning supplies and food staples was fueling the shortages. Amazon.com, the biggest online retailer, said it sold out of many household staples after orders spiked.
Clorox (CLX) performing well. The global maker of cleaning is up 3% today and up over 10% for the year verse a market down over 20% year to date and down as much as 30% from all-time highs. Ironically, Clorox' stock only returned 3% in 2019.
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