Lates News

On Tuesday morning, a massive fire broke out at a distribution center in California that serves around 50 million people. An employee of Kimberly-Clark was arrested on suspicion of arson. According to local television reports, the facility in Ontario, California primarily stored tissue and toilet paper. The 1.2 million square foot facility suffered severe damage with parts of the roof collapsing. Kimberly-Clark stated that there were no reports of injuries and the company's stock price fell by 4.1% on Tuesday. Piper Sandler analyst Michael Lavery wrote that the current level of supply disruption is "difficult to quantify," but warehouses in the area often supply products to major markets in Northern California, Arizona, and Nevada.