Clorox predicts lower sales as pandemic demand fades By Reuters

© Reuters. FILE PHOTO: Bottles of Clorox bleach are listed for sale on the shelves of a Wal-Mart store in Rogers, Arkansas, June 4, 2009. REUTERS / Jessica Rinaldi

(Reuters) -Clorox Co forecast full-year sales below Wall Street estimates on Tuesday, as demand for its bleaches, wipes and other surface cleaners declined from pandemic highs, pushing down its 6% shares.

The easing of COVID-19 restrictions in the United States prompts people to cut back on their purchases of surface cleaners and other sanitation products compared to last year, when cleaning product manufacturers benefited from a frenzy of demand due to the pandemic, although demand is still higher than before the pandemic.

Sales of the company’s health and wellness division, its largest unit by sales and home of Clorox Disinfecting Wipes (NYSE :), fell 17%.

Net sales fell to $ 1.80 billion from $ 1.98 billion in the fourth quarter, missing the analysts average estimate of $ 1.92 billion, according to data from Refinitiv IBES.

The company said it expects FY2022 sales to fall by around 2% to 6%, compared to analysts’ average estimate of a 1% drop, according to data from Refinitiv IBES.

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