KMB Kimberly Clark Corp

By Micah Maidenberg

Kimberly-Clark Corp. (KMB) said Thursday it expects sales to increase 1% in 2020.

The owner of the Huggies diaper brand, Kleenex and other staples believes it will do better in terms of organic sales, which exclude currency fluctuations and deals from results.

Organic sales are expected to rise 2% for the year amid higher prices and volumes, and due to the mix of products the company sells.

Kimberly-Clark also forecast profit, after adjustments, to increase to $7.10 to $7.35 a share, from $6.89 last year.

Kimberly-Clark said its cost-savings initiatives will generate $425 million to $500 million of savings for the year.

The company said that it plans to increase advertising spending in 2020, but expenses for key materials, such as pulp, will decline $50 million to $200 million.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

January 23, 2020 08:37 ET (13:37 GMT)

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