With unemployment rates at 14.7% and the economy free falling, it's hard to image that any business is seeing the coronavirus pandemic as a boon.
But some sectors, including in the entertainment, household supplies and communication tools industries, profits have been on the rise. And that's likely to continue as personal safety and socializing remain at the forefront of American minds.
Here are 5 companies that booming during the coronavirus pandemic:
Nintendo: Animal Crossing, anyone? This coveted game has the indoor population sharing friend codes across the country. Nintendo Switch game consoles are sold out in stores, with far-away restock dates as people continue to buy them up. Nintendo’s annual profit has increased 41%, which the company says is its highest in nine years.
Clorox: With lockdowns in place across much of the nation, homes are being cleaned, sanitized, and disinfected more than ever. Clorox said that overall sales have increased 15% during the first quarter. Clorox’s household cleaning supplies specifically have increased 32%.
Zoom: Whether you’re taking classes, working from home, or chatting with friends, you’ve probably used Zoom at least once. The video conferencing app has seen a stock increase of 120% so far.
Publix: Essential businesses like grocery stores have continued to grow during the pandemic. Publix, one of the largest grocery store chains, has seen a profit increase of 10% during the first quarter.
Beyond Meat: Disrupted supply lines have made meat scarce during the pandemic. Some have switched over to meat alternatives. Beyond Meat, a producer of plant-based meat alternatives, has seen an over 150% increase in sales.