Kimberly-Clark Corp announced this week that it would be raising prices on many of its products in both Canada and the United States to offset rising commodity costs. Starting late June, consumers can expect to see the prices of popular products like Scott paper towels, Cottonelle toilet paper and Kleenex facial tissues impacted along with other adult and child care products.
Although Kimberly-Clark seen its sales rise to nearly $20 billion USD last year, mostly due to the COVID-19 pandemic as products rolled off shelves with shoppers stockpiling, manufacturing costs also surged. Most companies who produce consumer products which rely on raw materials like pulp, recycled fibers and resins have continued to be pressured by global demand during the pandemic.
Kimberly-Clark stated that consumers can expect to see price increases in the mid-to-high single digits starting around late June as their manufacturing costs continue to surge as well.