A couple of stories on companies thriving during the pandemic for your consideration.
First, Clorox. COVID has been good to the company, as consumers scrambled for its disinfectant products. The famed wipes get snatched off shelves as quickly as they are put down, and I haven’t been able to find a bottle of my wife’s favorite Clorox/Tilex spray in six months. Sales in the quarter ended June 30 rose 22% from the previous year, and annual revenue hit $6.7 billion, up 8%. The company’s share price is up 42% since the first of the year. And the pollsters at Morning Consult put it at number six on their “Most Loved Brands” list, right after Netflix and before Amazon Prime.
How do you turn that pandemic-powered popularity into a perpetually better business? That’s the challenge that faces new CEO Linda Rendle. Fortune’s Phil Wahba does a deep dive into her challenge, available this morning here.
And second, Keurig Dr. Pepper. As the hot and cold drink businesses converge, this upstart is giving Coke and Pepsi a run for their money. In the 20-week period ended July 21, KDP grabbed 34.1% of the $1.4 billion increase in revenue for carbonated beverages, making it best-in-class at navigating the pandemic. And its ubiquitous coffee pods went through the roof. (We used more than a half dozen a day at my house while sheltering in place.)
KDP CEO Bob Gamgort told Fortune’s Shawn Tully that he hopes to thrive by embracing—rather than dreading—uncertainty. “Our rivals are rolling over and hoping the status quo returns,” he said. “It’s not returning.” You can read Tully’s piece here.
More news below.