3 Consumer-Staples Stocks Helped by Coronavirus Changes
The coronavirus pandemic has rearranged consumer shopping preferences in some fundamental ways. One of the biggest trends has been a shift in spending away from discretionary niches like restaurants and movie theaters and toward home food and maintenance supplies.
This move has benefited the businesses of Clorox (NYSE: CLX), General Mills (NYSE: GIS), and Campbell Soup (NYSE: CPB) in recent months. But should investors expect the gains to persist beyond the first half of 2020? Let's take a closer look.
Each of these companies announced significantly stronger sales and profits in the most recent quarter. Campbell Soup's organic sales gains jumped to 17% from 1% as people stocked up on its prepared food products. General Mills noted surging demand for breakfast and pet-supply goods when it announced a 16% sales spike for the three months ended on May 31. Revenue was running flat before the pandemic struck.
Source Fool.com
