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.