Factbox-U.S. companies raise product prices to tackle wage, raw material inflation - Metro US

Factbox-U.S. companies raise product prices to tackle wage, raw material inflation

FILE PHOTO: Bottles of Pepsi are pictured at a grocery store in Pasadena

(Reuters) – A slew of major U.S. companies — reeling from the impact of high prices of raw materials, increased labor expenses, and supply-chain woes — are raising prices of their products as demand for several goods rebound with a reopening of the economy.

Below are the comments from U.S. companies on their efforts to counter an inflationary environment:

Chipotle Mexican Could implement more price hikes after

Grill Inc seeing very little resistance to

previous price increases.

PepsiCo Inc Will raise prices to offset higher

raw-material as well as advertising

and marketing costs.

Dow Inc Product prices jumped 16% in the

second quarter from the prior period,

it said, as demand in infrastructure,

industrial and personal-care end

markets grew.

U.S. Silica Holdings Prices hikes of certain industrial and

Inc specialty products — to help offset

jumps in energy, transportation,

materials and manufacturing costs —

will range up to 15%, and go into

effect for shipments beginning Sept.


Valmont Industries Expects meaningful sequential margin

Inc improvement in the second half in its

utility support structures division,

as pricing aligns more with steel cost


Kimberly-Clark Corp Increased prices to offset higher raw

material costs.

Harley-Davidson Inc Implemented average 2% pricing

surcharge on select models in the U.S.

to offset raw-material inflation,

although it said the surcharge will

not fully offset raw-material cost


Nucor Corp Primary drivers for expected increase

in earnings in the third quarter are

improved pricing and margins in its

steel mills segment.

Halliburton Co Expects increasing demand and

tightening equipment capacity to lead

to higher prices.

Domino’s Pizza Inc Second-quarter results were partly

driven by a balance of more items per

order, modest menu price and delivery

fee increases.

Conagra Brands Inc Said it would have to be aggressive

CAG.N> going forward while discussing price


Travelers Co Inc Expects price rises to keep exceeding

the increase in losses, or payouts, in

its commercial lines of business.

(Reporting by Praveen Paramasivam in Bengaluru; editing by Uttaresh.V)

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