Kimberly-Clark Profit Falls 8.9%, Plans to Raise Prices |
| Wall Street Journal - Apr 25, 2011 |
Kimberly-Clark Corp.'s first-quarter earnings fell 8.9% due to rising costs for key materials like wood pulp, and the company signaled plans to raise prices on most products it sells in North America.
The price increases are part of aggressive actions that Kimberly-Clark's Chief Executive Thomas Falk says the company is taking as it expects costs for the year to be about twice as high as it expected last quarter. The maker of Kleenex tissues and Huggies diapers also plans to cut overhead costs more than previously expected, with the benefits to become more evident in the second half of the year.
The actions may not be enough to prevent weaker earnings. Kimberly-Clark cut the low-end of its full-year earnings outlook by a dime to a range of $4.80 to $5.05 a share, even as it raised its sales forecast projection to an increase of 4% to 6% from 3% to 4% amid anticipated price increases and a weaker dollar.
Read Full Article from Wall Street Journal
- Posted: 2011-04-25 10:06:44
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