It wasn’t too long ago that consumer goods giant Procter & Gamble (NYSE: PG) was considered down and out, struggling to turn its business around. That effort started to pay off before 2020, but it got a real shot in the arm in the third quarter thanks to the fast-spreading coronavirus pandemic. Looking forward, will P&G keep winning in 2021?
The consumer staples area isn’t exactly known for being an exciting sector of the market, but in 2020, companies that made things like toilet paper, cleaning products, and personal care items put in a fairly strong performance. Thank the novel coronavirus for that, as people spent more time at home and heightened their cleaning regimens. Procter & Gamble did better than many, gaining roughly 11% or so compared to a roughly-7% gain for Consumer Staples Select SPDR ETF with just a couple of days left before the ball drops.