The editors and reporters for the DealBook newsletter sift through a lot of company reports and listen to many earnings conference calls. These are some of the things that caught our notice this week, a big one for retailers explaining consumers’ shifting habits during the pandemic:
🎣 “We think about 25 million Americans would go fishing on a regular basis before February, and that number has now moved to 35 million.” — John Furner, the president of Walmart’s U.S. division, on new pandemic pastimes.
💄 “Wearing masks in many parts of the world … had an impact on lipstick.” — Fabrizio Freda, the chief executive of Estée Lauder, to analysts on how moisturizer has replaced lipstick as an affordable indulgence during the recession.
👃 “Making your home smell like you want it to is something that our customer has continued to express interest in and again, something we would expect to continue through the pandemic.” — Andrew Meslow, the chief executive of Bath & Body Works’ parent company L Brands, on growth in its “home fragrance” business line.
🔨 “Just a robust decking boom.” — Ted Decker, Home Depot’s head of merchandising, on one factor driving a surge in sales during lockdowns.
🦠 “It does not seem to be under control in any shape or form.” — Trond Grande, the deputy chief executive of Norway’s sovereign wealth fund, on the coronavirus.