April 23 (Reuters) - Kimberly-Clark ( KMB ) raised

annual sales and profit forecasts on Tuesday after topping

first-quarter expectations, banking on higher pricing and robust

demand for its premium personal care and household products in

North America.

Top consumer goods companies have been increasing prices

since the pandemic to counter escalating costs, which are now

easing from their peaks, leading to intensified competition from

budget-friendly brands as shoppers seek better value.

Kimberly-Clark ( KMB ) said it was sustaining the momentum in

premium products within its personal care division. Overall, the

company's volumes rose by 1% while prices saw 4% growth in the

quarter, with minimal consumer trade-down.

The results mirror wider market conditions, as larger rival

Procter & Gamble ( PG ) recently raised its annual profit

forecast on lower commodity costs and consumer demand for its

pricey Tide detergent and Dawn dish soap.

Demand for household and personal care products has remained

resilient, with consumers stocking up on surface cleaning

agents, disinfectants and paper napkins.

The Kleenex parent reported quarterly net sales of $5.15

billion, while analysts on average had expected sales of $5.09

billion, according to LSEG data.

In March, the company announced that it planned to

reorganize its business into three units to streamline

operations and cut costs.

Excluding items, Kimberly-Clark ( KMB ) earned $2.01 per share in

the first quarter, while analysts were expecting $1.63 per

share.

The company now sees 2024 organic sales growing in a

mid-single-digit percentage, compared to its previous forecast

for a low to mid-single-digit rise.

It expects adjusted profit to grow at a low-teens percentage

rate on a constant-currency basis, up from high single-digit

growth expectations previously.