Signs of life in the RV business; Zoom falls for third day

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.

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SALES REPORT: The pandemic has affected companies in vastly different ways. Retailers like Target and Walmart became critical lifelines, while others have suffered.

— 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.

Sales of goods sold for use in perfumes and restaurants, however, tumbled 40%.

JOBS: The economic fallout from the pandemic may be severe and long lasting. Many had hoped for a rapid return to work, but companies are paring costs, and that includes payroll.

— The paint and coatings maker PPG is implementing a global restructuring plan that includes a buyouts for employees in the...