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Why Clorox Sales Tumbled 12% This Week

TheMotleyFool

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Shares of Clorox (NYSE: CLX) tumbled 12.6% this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence. As consumers view the COVID-19 pandemic as being more in the rearview mirror, the need to clean every surface with a disinfecting wipe is fading.

Clorox no longer needs the third-party contract manufacturers it brought in at the height of the COVID-19 frenzy when bleach, wipes, and disinfecting spray were in such demand you couldn't find them on store shelves. CEO Linda Rendle told investors, "We've been able to consolidate and narrow the external manufacturer portfolio we have to strategic partners."

Image source: Getty Images.

Source Fool.com

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