The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the national and global response, the work place and the spread of the virus.
— With production shuttered due to the pandemic, Wall Street was expecting some dire results from the RV company Thor Industries. As it turns out, being locked in has a lot of people thinking about hitting the road.
Not only did Thor avoid losses as most industry analysts had expected, it posted sales of $1.68 billion. Profit and revenues fell sharply, but shares rose sharply on the performance Monday.
“Despite this being one of the most unusual quarters I have ever experienced, I am pleased to report that we were profitable and generated positive net cash from operations, said CEO Bob Martin.
Martin also said people are buying RVs as a second office.
— The first two months of the second quarter have been a mixed bag for International Flavors & Fragrances, which makes ingredients for food, cosmetics and other consumer-focused companies. Sales of products used for packaged food, drinks, hygiene and disinfectant rose 3% compared with a year ago, according to preliminary data.