Kimberly-Clark reports Q3
DALLAS — Kimberly-Clark set an all-time record high in net sales during its third quarter.
For the period ended Sept. 30, K-C said third-quarter net sales rose 8% to $5.4 billion. Diluted net income per share decreased, however, from $1.14 in third quarter 2010 to $1.09.
Third-quarter sales of K-C’s personal care segment rose 9% to $2.4 billion. For the North America market, sales dropped 1%. The company said overall sales volumes were even with the year-ago period, but noted growth in adult care, baby wipes and feminine care, thanks to growth from the introduction of Poise hourglass shape pads, as well as continued momentum of U by Kotex. Infant care volumes fell low-single digits and child care volumes fell at a double-digit rate, despite the introduction of Huggies Little Movers slip-on diapers.
K-C’s consumer tissue segment increased 4% to $1.7 billion, while North American sales dropped by 1%, due to lower sales in bathroom and facial tissues. By product category, bathroom tissue volumes fell double-digits and Kleenex facial tissue volumes were off high single-digits. Paper towel volumes, however, rose at a double-digit rate and benefited from improved distribution levels and promotion activity, K-C said.
"While we are not on track with all of our goals this year, I’m encouraged that execution of our Global Business Plan strategies enabled us to deliver 4% growth in organic sales and double-digit growth in adjusted earnings per share in the third quarter," K-C chairman and CEO Thomas Falk said. "Our focus on targeted growth initiatives, revenue realization and cost reduction allowed us to overcome significant input cost inflation and softer-than-expected demand in portions of the developed markets. Our market positions remain solid overall and our innovation and marketing programs are on track."
CPR introduces retail price report
MARIETTA, Ga. — A provider of competitive market intelligence and insights has introduced a report that is designed to provide manufacturers and retailers instant access to U.S. retail prices of more than 12,000 SKUs in the health, beauty and wellness industry.
Competitive Promotion Report said its retail price report, is designed to provide accurate, everyday retail prices without the expense and hassle of having field staff conduct surveys and compile the data. The files, which are updated monthly, offer retail prices across four channels, including mass, grocery, drug and independents, and also provides a range of retail prices within each of these channels (low, average and high), CPR said.
For more information, contact [email protected] or call 877-491-4949.
FDA approves drug for severe epilepsy
SILVER SPRING, Md. — The Food and Drug Administration has approved a new drug for treating a severe form of epilepsy, the agency said Monday.
The FDA announced the approval of Onfi (clobazam) tablets, made by Catalent Pharma Solutions and Lundbeck, as an add-on treatment for seizures associated with Lennox-Gastaut syndrome in patients ages 2 years and older. The agency gave the drug orphan drug designation because the disease affects fewer than 200,000 people in the United States.
"This is a difficult condition to treat, and it will be helpful to have an additional treatment option," FDA Division of Neurology Products director Russell Katz said.