Kimberly-Clark Cuts Forecast After China Formamide Claims Hit Diapers
Kimberly-Clark cut its annual forecast as China disruptions hurt Huggies diaper sales amid claims on Chinese social media that the product contained formamide. The company cited independent testing by a government-certified third party to refute the allegation and noted a market regulator inquiry without an update. It expects a roughly $150 million impact, and quarterly net sales rose 0.6% to $4.19 billion.