Oct 22 (Reuters) - Kleenex tissue maker Kimberly-Clark ( KMB )

on Tuesday cut its full-year organic net sales forecast

after missing Wall Street estimates for third-quarter sales, as

cost-conscious consumers swap its pricier personal care goods

for cheaper alternatives.

Although U.S. inflation has eased from its peaks, consumer

spending has continued to decelerate as goods ranging from food

to apparel got costlier over the last two years.

Fueled by higher input costs, consumer companies have raised

prices significantly, prompting customers to opt for more

affordable private label brands.

The company's overall volumes in the quarter to Sept. 30 was

flat compared with a year ago, while its prices were up 1%.

The price hikes, however, helped the company report a

quarterly adjusted profit of $1.83 per share, above analysts'

estimates of $1.70 per share, according to LSEG data.

The results reflect broader market trends, with larger rival

Procter & Gamble ( PG ) reporting a surprise drop in quarterly

sales last week as consumers in China shunned its products while

those in the U.S. bought fewer name brand beauty and baby care

products.

Kimberly-Clark ( KMB ) now expects organic net sales to grow by

between 3% and 4% this year, down from the previously expected

mid-single digit percentage rate.

Total sales fell 2% for its consumer tissue business during

the July-to-September quarter, driven by inventory reductions by

retailers in North America.

Bloomberg News reported last month that Kimberly-Clark ( KMB ) is

considering a sale of its international tissue business, which

could be valued at around $4 billion, as the company seeks to

concentrate on more profitable segments of its operations.

The Huggies diaper maker posted a 4% drop in quarterly sales

to $4.95 billion, missing analysts' estimates of $5.05 billion.

In North America, sales declined for its consumer tissue

and Kimberly-Clark ( KMB ) professional businesses, while personal care

was in line with year ago.