Kimberly-Clark cuts year outlook, considering raising prices

ATLANTA (Reuters) — Consumer products maker Kimberly-Clark said Monday its second-quarter profit fell and cut its full-year outlook as rapidly rising energy costs pressure margins. The company warned that it might be forced to implement more price increases, adding to inflationary pressures facing American shoppers, and its shares fell 7% in extended trading. Consumer products makers have faced rising input costs in light of record oil prices as the weak economy leads buyers already struggling to pay higher food and gasoline costs to curb spending. Kimberly-Clark has cut costs and raised prices of tissue and personal care goods to deal with the commodity inflation. The maker of Kleenex tissues, Huggies diapers and other hygiene products said diluted net income for the second quarter was an estimated 99 cents a share, down... [read full story]