This Summer, Texans Will Be Paying More for Huggies Diapers, Cottonelle Toilet Paper, & Other Essentials
Family budgets are already tight, and now a major company is planning to increase the price of some of their most popular products this summer for consumers here in North America.
According to a press release from Kimberly-Clark, customers in the U.S. and Canada will see an increase in net selling prices across a "majority of its North America consumer products business."
Translation: Prices for things like diapers, toilet paper, tissues, and feminine hygiene products are about to go up.
So, what brands come from Kimberly-Clark? Check out the list below:
The company says these price increases "are necessary to help offset significant commodity cost inflation."
I call bologna on that. Last year we all saw toilet paper fly off the shelves, and we all know that these companies were making BANK! You don't have to believe me, though. Just check out Kimberly-Clark's 2020 year end results and 2021 outlook.
Chairman and Chief Executive Officer Mike Hsu said, "In 2020, we grew organic sales 6 percent, with healthy underlying performance and increased demand because of COVID-19. We also significantly increased brand investments and improved our market share positions. In addition, we achieved $575 million of cost savings and returned $2.15 billion to shareholders through dividends and share repurchases. Finally, we grew adjusted earnings per share 12 percent, well above our medium-term objective."
The percentage increases are in the mid-to-high single digits. Nearly all of the increases will be effective in late June and impact the company's baby and child care, adult care, and Scott bathroom tissue businesses.
Now that I've shared this news with you, do me a favor and DON'T run out to hoard these products. We had enough of that last year. There are sure to be better deals out there, so shop around.
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