{"id":107811,"date":"2021-02-24T00:45:15","date_gmt":"2021-02-24T00:45:15","guid":{"rendered":"https:\/\/fin2me.com\/?p=107811"},"modified":"2021-02-24T00:45:15","modified_gmt":"2021-02-24T00:45:15","slug":"pg-ceo-expects-higher-demand-for-cleaning-products-to-outlast-pandemic","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/pg-ceo-expects-higher-demand-for-cleaning-products-to-outlast-pandemic\/","title":{"rendered":"P&amp;G CEO expects higher demand for cleaning products to outlast pandemic"},"content":{"rendered":"<ul>\n<li>P&amp;G Chairman and CEO David Taylor sees higher demand for cleaning products sticking around post-Covid pandemic.<\/li>\n<li>&quot;I think we&#x27;ve all gotten in habits of cleaning. We&#x27;ve got in the habit of the home being a bigger part of our life,&quot; Taylor told CNBC on Tuesday.<\/li>\n<\/ul>\n<p>People are no longer stocking up on household supplies like they did in the early days of the coronavirus pandemic, but Procter &amp; Gamble Chairman and CEO David Taylor told CNBC on Tuesday that the company expects elevated demand for certain categories to remain.<\/p>\n<p>&quot;They&#x27;re not hoarding anymore. In many cases, they&#x27;re working off the inventory they&#x27;ve built at home,&quot; Taylor said in an interview that aired on &quot;Closing Bell.&quot; &quot;But I think consumers recognize there&#x27;s still a lot of variability ahead in what could happen so they&#x27;re going to maintain a little more than they did pre-pandemic.&quot;<\/p>\n<p>Specifically, Taylor said P&amp;G \u2014 owner of brands such as Mr. Clean, Microban 24 and Crest \u2014 anticipates people will maintain a greater focus on cleaning and hygiene, offering a possible tailwind for the consumer-goods giant.<\/p>\n<p>&quot;I think we&#x27;ve all gotten in habits of cleaning. We&#x27;ve got in the habit of the home being a bigger part of our life,&quot; said Taylor, who has led Cincinnati-based P&amp;G since 2015. &quot;In many ways, these habits will likely sustain for &#8230; an extended period of time post-pandemic, and that bodes well for many of the categories we compete in.&quot;<\/p>\n<p>P&amp;G was viewed as the kind of company that stood to benefit from the pandemic, with CNBC&#x27;s Jim Cramer including its stock in his Covid index, for example. But investors have wondered about the durability of any Covid-related sales boosts, particularly as a wider range of economic activity resumes and more immediate virus concerns fade.<\/p>\n<p>Shares of P&amp;G are down more than 10% since notching a 52-week high of $146.92 on Nov. 9. For comparison, the benchmark S&amp;P 500 is up a little over 9% in that same time frame.<\/p>\n<p>Taylor said it will be &quot;interesting&quot; to see how consumer spending is recalibrated but that he feels &quot;health, cleaning and hygiene is going to remain strong post-pandemic.&quot;<\/p>\n<p>Taylor is not alone in his prediction that altered attitudes toward cleanliness will stick around. Linda Rendle, the chief executive of Clorox, offered a similar outlook in a CNBC interview Friday. &quot;People are adopting cleaning as more of a thing around safety and wellness, not just a chore,&quot; Rendle said.<\/p>\n<p>Clorox raised its full-year sales outlook\u00a0following its quarterly earnings report\u00a0earlier this month, projecting revenue growth of between 10% and 13% in fiscal 2021. P&amp;G did the same in January, when it posted results for its fiscal second quarter. It said it now expects full-year sales to grow between 5% and 6%, up from its previous forecast of 3% to 4%.<\/p>\n<p>P&amp;G shares closed Tuesday&#x27;s session higher by 0.74% to $127.52 apiece.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/23\/pg-ceo-sees-higher-cleaning-product-demand-outlasting-covid-pandemic.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>P&amp;G Chairman and CEO David Taylor sees higher demand for cleaning products sticking around post-Covid pandemic. &quot;I think we&#x27;ve all gotten in habits of cleaning. [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":107810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>P&amp;G CEO expects higher demand for cleaning products to outlast pandemic - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/pg-ceo-expects-higher-demand-for-cleaning-products-to-outlast-pandemic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"P&amp;G CEO expects higher demand for cleaning products to outlast pandemic - Fin2me\" \/>\n<meta property=\"og:description\" content=\"P&amp;G Chairman and CEO David Taylor sees higher demand for cleaning products sticking around post-Covid pandemic. &quot;I think we&#x27;ve all gotten in habits of cleaning. 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