Essity, Vinda results show a COVID-influenced pattern: sales flattish and profits very strong
WILMOT, NH, July 30, 2020-
Both Swedish hygiene products giant Essity and its Hong Kong-based affiliate Vinda reported first half results this month that reflected the impact of COVID on business, with each company finding ways to generate robust profits in the face of massive disruption to sales and operations – benefiting in some cases from low raw materials costs.
Vinda enjoyed a rebound in consumer demand as China emerged rapidly from its initial battle with the pandemic. Essity noticed an interesting trend that emerged from full or partial lockdowns in many countries: as consumers tried to reduce the time they spent shopping in multiple stores, sales through discount and specialty outlets seemed to suffer, while traditional supermarkets provided one-stop shopping opportunities – benefiting the branded and premium private label products often sold there.
Not a subscriber?