Clearwater Reports $133.7-Million In Sales, Drop Due to Coronavirus sales decrease

On a conference call with reporters Tuesday, Clearwater CEO Ian Smith said the Covid-19 pandemic was the main reason for lower sales. Although international borders weren’t closed to Clearwater’s exports, the pandemic’s effect on the worldwide restaurant industry created less demand for seafood products. “We did not lose access to any markets, but historically our business has been weighted towards food-service establishments,” said Smith. “In fact, seafood disproportionately is eaten in food-service establishments, because knowledge of how to shop and how to prepare it is less than what it is for other proteins.” >click to read< 09:06

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