PepsiCo profit gets a bump on fewer charges, but sales slip after repeated price hikes
10 months, 2 weeks ago

PepsiCo profit gets a bump on fewer charges, but sales slip after repeated price hikes

Associated Press  

PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have weakened consumer demand for the company’s snacks and drinks. The New York company said Friday that it expects organic revenue growth of at least 4% this year, less than half the 9.5% growth that PepsiCo booked in 2023. For the three months ended Dec. 30, PepsiCo earned $1.3 billion, or 94 cents per share. Global supermarket chain Carrefour said last month that it will stop selling PepsiCo products in its stores in France, Belgium, Spain and Italy due to price increases for popular items like Lay’s potato chips, Quaker Oats, Lipton Iced Tea and its namesake soda.

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History of this topic

Coca-Cola's Revenue and Volume Growth Slows, But It Beats Wall Street's Forecast
2 months ago

Coca-Cola's Revenue and Volume Growth Slows, But It Beats Wall Street's Forecast

Associated Press  

Coca-Cola's quarterly revenue fell due to a decline in sales volumes, but the company still exceeded Wall Street's forecasts. The company hiked prices 10% in the July-September period, but this is hurting demand. Coke is focused on making drinks more affordable by offering smaller pack sizes and, in some markets, refillable bottles. However, the company is also seeing some inflation …

The Future of Junk Food Could Be Healthy Food
4 months, 3 weeks ago

The Future of Junk Food Could Be Healthy Food

Bloomberg  

A few weeks ago, PepsiCo Inc. —the biggest maker of grocery store food in the US—reported its quarterly earnings. After several years of price hikes, consumers are buying less of PepsiCo’s food and beverages, which include Lay’s potato chips, Doritos and Mountain Dew. Chief Executive Officer Ramon Laguarta blamed struggling American shoppers, whom he’ll try to woo back with discounts …

Coca-Cola raises full-year sales guidance after stronger-than-expected second quarter
5 months ago

Coca-Cola raises full-year sales guidance after stronger-than-expected second quarter

Associated Press  

Coca-Cola is raising its full-year sales guidance after a stronger-than-expected second quarter boosted by continued price increases. In North America, where Coke’s prices rose 11%, about half of the increase was due to sales of more expensive beverages like Topo Chico mineral water and Fairlife milk, Quincey said. Yes, we’ll look to put it through.” But price increases appear to …

PepsiCo’s second quarter profits jump but customers slow their purchases after years of price hikes
5 months, 1 week ago

PepsiCo’s second quarter profits jump but customers slow their purchases after years of price hikes

Associated Press  

PepsiCo reported higher-than-expected earnings in the second quarter but acknowledged that after raising prices every quarter for more than two years, customers are not buying as many of its snacks and drinks. PepsiCo said Thursday that North American demand for its Frito-Lay snacks was “subdued” during the quarter and sales volumes dropped 4%. Laguarta said demand for energy drinks like …

Consumers are increasingly pushing back against price increases — and winning
9 months, 4 weeks ago

Consumers are increasingly pushing back against price increases — and winning

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “That was the fear — that everybody would tolerate …

Coca-Cola overcomes falling demand in North America and puts up strong fourth quarter sales
10 months, 1 week ago

Coca-Cola overcomes falling demand in North America and puts up strong fourth quarter sales

Associated Press  

Coca-Cola reported higher-than-expected revenue in the fourth quarter as growth in Mexico, Germany and other markets offset lower demand in the U.S. Revenue rose 7% to $10.8 billion for the October-December period, the Atlanta beverage giant said Tuesday. In North America, unit case volumes declined 1% as growing sales of juice, dairy and Coca-Cola were offset by falling demand for …

PepsiCo products are being pulled from some Carrefour grocery stores in Europe over price hikes
11 months, 2 weeks ago

PepsiCo products are being pulled from some Carrefour grocery stores in Europe over price hikes

Associated Press  

PARIS — Global supermarket chain Carrefour will stop selling PepsiCo products in its stores in France, Belgium, Spain and Italy over price increases for popular items like Lay’s potato chips, Quaker Oats, Lipton Iced Tea and its namesake soda. The French grocery chain said it pulled PepsiCo products from shelves in France on Thursday and added small signs in stores …

PepsiCo hikes prices by double digits for the 7th consecutive quarter and profits jump 14%
1 year, 2 months ago

PepsiCo hikes prices by double digits for the 7th consecutive quarter and profits jump 14%

Associated Press  

Price hikes lifted PepsiCo’s profits in the third quarter, but the company says those increases are likely to moderate in the coming year. “Units are growing much faster than volume,” PepsiCo Chairman and CEO Ramon Laguarta said Tuesday in a conference call with investors. “I do think that we see the consumer right now being more selective,” PepsiCo’s Chief Financial …

PepsiCo raises 2023 profit expectations as price hikes offset falling sales volume
1 year, 5 months ago

PepsiCo raises 2023 profit expectations as price hikes offset falling sales volume

Associated Press  

Higher prices lifted PepsiCo’s revenue in the second quarter but dented consumer demand, and the company said Thursday that price increases could start to moderate in the second half of this year. CEO Ramon Laguarta said the company has been surprised by consumers’ willingness to keep buying its brands despite higher prices. The perceived value of our products is better …

Pepsi price hikes fuel 10% jump in the fourth-quarter sales
1 year, 10 months ago

Pepsi price hikes fuel 10% jump in the fourth-quarter sales

Associated Press  

PepsiCo reported better-than-expected sales in the fourth quarter after hiking prices for its drinks and snacks, but it warned that consumers may be less willing to accept those increases as this year progresses. Pepsi raised prices 16% in the October-December period __ and 14% overall in 2022 __ as it battled double-digit percentage cost increases for ingredients like cooking oil, …

PepsiCo to lay off hundreds of workers in headquarters roles
2 years ago

PepsiCo to lay off hundreds of workers in headquarters roles

Live Mint  

PepsiCo Inc. is laying off workers at the headquarters of its North American snacks and beverages divisions, a signal that corporate belt-tightening is extending beyond tech and media, according to people familiar with the matter and documents reviewed by The Wall Street Journal. The cuts affect the company’s North America beverage business, which is based in Purchase, N.Y., and its …

US consumer prices surge in June by the most since 2008
3 years, 5 months ago

US consumer prices surge in June by the most since 2008

Associated Press  

WASHINGTON — Prices for U.S. consumers jumped in June by the most in 13 years, evidence that a swift rebound in spending has run up against widespread supply shortages that have escalated the costs of many goods and services. Tuesday’s report from the Labor Department showed that consumer prices in June rose 0.9% from May and 5.4% over the past …

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