As Americans Eat Out Less, Paper Towel Maker Essity Feels the Pinch

Essity is registering greater weakness among the U.S. restaurants it supplies than the European ones, CEO Ulrika Kolsrud reports, with rising prices and a slowing jobs market putting pressure on American household budgets. The trend is hitting the Swedish company's professional hygiene business, which sells products such as Tork paper towels to restaurants and other businesses, especially hard. The unit's prices, sales, and volumes all dipped from July through September. Additionally, Essity flagged higher costs of goods sold.

Read more on Reuters.