Coronavirus-related items limited by Target, Kroger
Major retailers are rationing supplies for sanitizer, wipes and other products related to coronavirus
As more Americans prepare to hunker down at home in response to the climbing number of coronavirus cases in the U.S., major retailers are putting limits on the number of purchases on select items such as hand sanitizer and disinfectant wipes to curb stockpiling.
CORONAVIRUS TOILET PAPER SHORTAGE HAS U.S. RETAILERS LIMITING PURCHASES
Target stores throughout the country implemented product quantity limitations over the weekend with signs put up to communicate the new policy.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TGT | TARGET CORP. | 162.80 | -1.54 | -0.94% |
“Due to high demand and to support all guests, we will be limiting the quantities of disinfectant wipes, hand sanitizers and hand & face wipes to 6 per guest,” the signs read, a Target spokesperson tells FOX Business.
Shelves that held hand sanitizer and hand soap are mostly empty at a Target in Jersey City, N.J., Tuesday, March 3, 2020. (AP Photo/Seth Wenig)
KROGER REPORTS HIGHER SALES AS GROCERS PREPARE FOR CORONAVIRUS
Supermarket chain Kroger adopted a similar policy earlier this month with a limit of five items per customer for virus-related stock.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KR | THE KROGER CO. | 55.84 | +0.84 | +1.53% |
“Due to high demand and to support all customers, we will be limiting the number of sanitization, cold and flu-related products to 5 each per order. Your order may be modified at the time of pickup or delivery,” the company said on its website.
Kroger-Walgreens (Courtesy of Kroger, Walgreens.)
MEMBERS OF CONGRESS IN QUARANTINE AFTER HAVING CONTACT WITH CORONAVIRUS PATIENT
The new policies have been put in place to protect already disrupted retail supply chains from frenzied shoppers who are prepping for worst-case scenarios.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 779.04 | +15.63 | +2.05% |
Even the members-only Costco Wholesale Corp. has felt the effects of stockpiling with the company’s Chief Financial Officer Richard Galanti saying the wholesaler has struggled to keep “dry grocery items, cleaning supplies, Clorox and bleach, water, paper goods, hand sanitizers” in stock to meet customer demand in a recent earnings call.
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Shoppers visit a Costco Wholesale in Tigard, Ore., Saturday, Feb. 29, 2020, after Oregon's first case of coronavirus was announced in the nearby Oregon city of Lake Oswego on Friday. (AP Photo/Gillian Flaccus)
Shopping has increased so much, Costco’s comparable sales rose by three percentage points.
In the U.S., the confirmed number of coronavirus cases has reached 607 at the time of publication, according to Johns Hopkins' COVID-19 live tracker. The death toll related to this respiratory virus is 24.