Reckitt Benckiser's sales hit record on coronavirus disinfectant boom [Reuters]
Unilever PLC (UL)
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Source: Reuters
Reckitt Benckiser's sales hit record on coronavirus disinfectant boom (Reuters) - Reckitt Benckiser ( RB.L ) achieved record sales growth in the first quarter and predicted a stronger-than-expected performance in 2020 as customers stocked up on Lysol disinfectants, Mucinex cough syrup and Dettol soap ahead of the coronavirus lockdowns. The boom in demand has come as the company had been battling intense competition in the health and hygiene industry. In February, Reckitt had announced plans to spend 2 billion pounds over the next three years to spur growth. Reckitt said its business was more resilient now than a few months ago and it was adjusting quickly to a world where personal hygiene was becoming more important. Laxman Narasimhan, who joined as CEO in September, said that he expected more pronounced changes in consumer behaviour the longer people are forced to sit at home. He said that higher e-commerce usage and a preference for more well-known brands were some of the changes
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