- July 23, 2021
- Posted by: Stratford Team
- Category: Business
Crossmark Global Investments CIO Bob Doll argues Americans are experiencing an ‘era of inflation.’
Kimberly-Clark Corp. cut its annual forecast as inflationary headwinds and slowing toilet paper sales hurt business while the pandemic moved into the rearview mirror.
The Irving, Texas-based consumer products maker said on Friday that it will earn between $6.65 and $6.90 a share, down from its prior forecast of as much as $7.55. The company expects net sales to grow 1% to 4%, down from prior guidance of 3% to 5% growth.
Ticker Security Last Change Change %KMB KIMBERLY-CLARK CORP. 135.96 +0.94 +0.70%
“We are facing significantly higher input costs and a reversal in consumer tissue volumes from record growth in the year ago period as consumers and retailers in North America continued to reduce home and retail inventory,” CEO Mike Hsu said in a statement.
The company has already raised prices to “mitigate inflationary headwinds,” he…
