9 articles | last updated: Jul 11 19:02:17
Higher prices and inflation drive value-conscious consumers to cheaper alternatives, impacting revenue growth.
- PepsiCo's net income increased by 12% to $3 billion, surpassing earnings expectations.
- Revenue grew by less than 1% to $22.5 billion, missing analysts' forecasts.
- Sales volumes for major brands like Frito-Lay and Quaker Foods dropped significantly.
- The company lowered its full-year organic revenue growth outlook to approximately 4%.
- PepsiCo plans to introduce new flavors and promotions to regain consumer interest.
People, Places and Things In This Story
- PepsiCo, Inc Food company
- Frito-Lay Food company
- United States Country in North America
- Quaker Foods Ltd Company
- Quaker Oats Company Food company
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- Business