金佰利因仓库火灾和中国纸尿裤质量谣言冲击下调全年增长预期

Kimberly-Clark Corp. slightly lowered its growth expectations for the year after its operations were disrupted by a warehouse fire in the second quarter and “false allegations” about the quality of its diapers in China.

The company sees organic sales increasing below the overall average growth of the product categories it sells in, according to a statement Tuesday. Previously, it anticipated it would be in-line or slightly ahead of total market expansion.

Part of that change stems from weakness in its Chinese diaper business after a state-run publication published a report that alleged the presence of formamide, a toxic substance, in some Kimberly-Clark products.

“The impact from the spread of false claims across social media significantly impacted the Company’s diaper sales in China in the second quarter and is expected to further impact sales and profits in the near term,” Kimberly-Clark said. Independent testing conducted by a government-certified third party affirmed the “quality and safety” of the products, the company said.

The disruption came as competition in the critical baby-care market heated up with its main rival Procter & Gamble Co. Baby- and child-care sales, which includes Kimberly-Clark-owned Huggies and Pull-Ups brands, represented 40% of the company’s global sales last year, according to Citi analyst Filippo Falorni. P&G posted significant growth in that market when it reported earnings last week, which could drag Kimberly-Clark’s sales going forward, Falorni wrote in a note ahead of the results.

Sales were also affected by a fire that destroyed a Southern California warehouse holding Kimberly-Clark products. That event contributed to organic sales in North America falling by nearly 1% in the second quarter. Overall, the measure missed analyst expectations and was flat in the second period, compared with a 3.9% jump a year ago.

In April, the month that the blaze occurred, Kimberly-Clark said it would take a $50 million hit from the fire and incremental costs from the Middle East war.

That could complicate operations through the remainder of the year, Bloomberg Intelligence analyst Diana Gomes wrote in a note prior to results.

The household goods market has also been navigating elevated input costs tied to the conflict in the Middle East. Earlier this year, Kimberly-Clark called out the potential for additional costs of as much as $170 million due to pricier raw materials, while its larger peer P&G reiterated its view for a $1 billion hit last month.

As the companies have been dealing with inflated business expenses, they have had to strike a delicate balance when raising prices for consumers. Years of persistent inflation have seen customers cut back on shopping and left companies battling for share of shrinking markets.

Kimberly-Clark is still working to integrate Kenvue Inc. in its organization after its roughly $40 billion deal for that business was announced in November. After clearing a shareholder vote in January, the transaction is due to close later this year. Kenvue, which owns and produces Tylenol, is facing numerous lawsuits over claims the medication is linked to autism and ADHD. Although proving those allegations “will be difficult,” a settlement could cost the company as much as $7.5 billion, according to Bloomberg Intelligence litigation analyst Holly Froum.

Kimberly-Clark’s shares have risen 6.6% this year through Monday’s close, compared with an 11% gain for the S&P 500 Index.