Briefs for Tuesday

Sept. 18, 2023 Updated Mon., Sept. 18, 2023 at 9:24 p.m.

Clorox says it’s experiencing product shortages nationwide across its categories following last month’s attack on its information-technology systems, and the company projects a “material” impact on its quarterly results.

The producer of disinfectants, cleaners, wipes, cat litter and salad dressing said some of its U.S. factories still aren’t making goods, although the “vast majority” have resumed output.

Clorox took down certain internal systems after the hack, which resulted in several weeks of ceased production.

For now, the company is manually processing orders at some facilities – a task that is usually automated – as it restarts operations.

Automated orders are expected to restart next week at Clorox’s U.S. plants.

“Now that it’s prolonged, we’re starting to see product outages across all of our categories,” spokeswoman Linda Mills said.

The shortages vary by store and region, she added, and some products are still able to be shipped.

The shortages will hurt results in the current quarter, Clorox said in an update Monday.

“While we cannot yet quantify the financial impact, we now believe this will be material on first-quarter financial results,” the company said. “It is premature for us to determine longer-term impact, including fiscal year outlook, given the ongoing recovery.”

All of Clorox’s U.S. facilities were affected by the attack, which was first announced Aug. 14, including its new cat litter facility that opened late last year in Martinsburg, W.Va.

Stocks middling amid busy week

Stocks, bonds and the dollar saw small moves at the start of a busy week for major central banks, whose rate decisions will set the tone for global markets for the rest of the year.

The S&P 500 closed near 4,450. Brent oil pared gains after almost hitting $95 a barrel earlier Monday in a move that added to inflation concerns.

Apple climbed, while Tesla dropped as Goldman Sachs lowered its earnings estimates for the electric-vehicle giant. Treasury 10-year yields edged lower while those on two-year notes remained above 5%.

Starting with the Federal Reserve on Wednesday and ending with the Bank of Japan two days later, monetary policy will be determined at key meetings across half of the Group of 20.

Advanced-economy central banks may draw particular focus as global policymakers adapt to the theme U.S. officials set out at Jackson Hole in August: Rates will likely stay higher for longer.

From wire reports

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.