According to a Q1 preview report from Motilal Oswal Financial Services, “In June 2020, near-normalcy was witnessed in several staples categories with some of the discretionary demand also surprisingly bouncing back in the month. However, whether this sustains given the worsening situation on the COVID front in several parts of the country – especially in large urban clusters – remains to be seen.” … [Read more...] about FMCG wrap: Lockdown may hit companies’ Q1 FY21 earnings
Maggi, Nestle India’s signature product, also witnessed robust growth towards the end of the quarter after initial supply constraints, the company stated in an earnings press release. It was among the first products to fly off the shelves at supermarkets immediately after the lockdown was first announced in March. … [Read more...] about Maggi or Milk — what did Nestle sell most during the lockdown?
“The recent imposition of localised lockdowns in several parts of the country, however, are posing operational challenges and impacting the recovery momentum. The company shall continue to closely monitor the situation and respond with agility to strengthen its market standing while sharply focusing on cost reduction measures,” it said in the press release. … [Read more...] about ITC sees demand for staples, noodles and hygiene products during COVID-19 lockdown
“The need of the hour is concerted efforts by all stakeholders — while retailers are doing their bit by following stringent hygiene practices, the policymakers too need to support to ensure economic revival across the country. Consumption is important for the country and supports the business environment,” said Rajagopalan. … [Read more...] about Amid localised lockdowns, retailers’ unanimous call to open all shops till 9 PM
Meanwhile Allott confirmed Lancashire's players had "unanimously agreed" a 20 percent salary reduction for the month of May that will also apply to the Red Rose club's other staff.Hampshire last week announced that Australia off-spinner Nathan Lyon would not play for the southern county this season because of the spread of COVID-19. … [Read more...] about Coronavirus impact: Maxwell, Watling, & Faulkner’s Lancashire contracts end owing to COVID-19 crisis