Clearwater Seafoods Releases Q1 Results, COVID-19 Takes a Toll on Sales Numbers
Nova Scotia-based Clearwater Seafoods saw a CAD 20 million drop in sales in the first quarter of 2020, largely due to COVID-19 and its impacts on the seafood industry across the globe.
Clearwater’s sales to Asia, which includes a key customer in China, were down 26.8% during the quarter.
“We started 2020 with great momentum but, unfortunately, Clearwater was directly impacted in the first quarter as our Chinese customers faced the brunt of COVID-19 just before the start of Chinese New Year festivities..."
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