Kimberly-Clark Raises Prices on Huggies
DALLAS (TheStreet) -- Kimberly-Clark (KMB) said it plans to raise prices on some of its consumer products in North America later this year.
The maker of household products under the Kleenex, Scott and Kotex brands said inflationary pressure from higher raw materials and energy costs will lead it to pass some of those costs onto consumers of its bathroom tissue products as well as baby and child care products.
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Kimberly-Clark shares rose 0.8% to close at $63.79 on Thursday. Kimberly-Clark said net selling prices in the U.S. and Canada for its Huggies baby wipes and diapers, Pull-Ups training pants and GoodNites youth pants will increase between 3% and 7%, on average. The price hikes will go into effect between June 19 and Aug. 17 of this year. Additionally, Kimberly-Clark will raise net selling prices in the U.S. for Cottonelle and Scott 1000 bathroom tissue products by around 7%, effective June 19. Price increases will vary by brand and pack size, the company said. Kimberly-Clark said net sales in North America for the consumer products facing price increases came to over $4 billion in 2010. A number of consumer goods makers have reported adverse effects from rising input costs in recent months, including Procter & Gamble (PG), Colgate-Palmolive (CL), Sara Lee (SDE), Starbucks (SBUX) and McDonald's (MCD), among others. Several of these companies also chose to pass on the higher costs to consumers.
-- Written by Miriam Marcus Reimer in New York.
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