PepsiCo reported stronger than expected revenue in the second quarter despite weaker demand in North America, where it said consumers tightened their budgets due to economic concerns.
PepsiCo plans to cut prices and eliminate some of its products under a deal with an activist investor announced Monday.
PepsiCo says new products will boost flagging consumer demand in the coming year, including protein-infused Starbucks coffee, low-sugar Gatorade and Doritos with all-natural ingredients.
PepsiCo reported better-than-expected earnings and revenue in the second quarter and expressed confidence that new and revamped products can boost its lagging North American sales in the second half of this year.
PepsiCo lowered its full-year earnings expectations Thursday, citing increased costs from tariffs and a pullback in consumer spending.
U.S. stocks rallied further as better-than-expected profits for U.S. companies piled up, though CEOs say they’re unsure whether it will last because of uncertainty created by President Donald Trump’s trade war.
Target’s chief executive officer has met with the Rev. Al Sharpton, whose civil rights organization has encouraged consumers to avoid U.S. retailers that scaled backed their diversity, equity and inclusion initiatives.
Food and beverage giant PepsiCo has agreed to meet this week with civil rights advocates from the National Action Network to discuss the company’s recent decision to roll back some of its diversity, equity, and inclusion initiatives.
The Rev. Al Sharpton has written to the CEO of PepsiCo giving the company three weeks to meet with him — or suffer a boycott — to discuss reversing the company’s recent move to do away with its diversity, equity and inclusion initiatives, according to a letter shared with The Associated Press.
A growing number of prominent companies have scaled back or set aside the diversity, equity and inclusion initiatives that much of corporate America endorsed following the protests that accompanied the Minneapolis police killing of George Floyd, a Black man, in 2020.
PepsiCo lowered its sales forecast for the year after consumers in the U.S., China and elsewhere pulled back on its snacks and drinks.
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.
Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households.
PepsiCo saw lower demand for its drinks and snacks in the second quarter but higher prices continued to boost its bottom line.
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