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PepsiCo: only Europeans eat more snacks

PepsiCo: only Europeans eat more snacks

Only in Europe did PepsiCo sell more in the last quarter. In the United States in particular, consumers consumed fewer crisps and soft drinks, or at least less expensive brands. Coca-Cola’s rival is therefore revising its expectations downwards.

Cheaper and fewer crisps

PepsiCo’s third-quarter sales held steady at 23.3 billion dollars (21.26 billion euros). Net profit also fell by 5%, to 2.9 billion dollars (2.65 billion euros). Adjusted for non-recurring costs, however, earnings per share were slightly higher than forecast, at 2.31 dollars per share.

The manufacturer of Pepsi, Doritos and Lays notes that snacking habits are changing, particularly among Generation Z consumers. In the United States in particular, consumers are continuing to fight high prices, reducing their snacking habits and turning to cheaper products. Only Europe saw volume growth in the last quarter. However, sales growth varied by region, with good performances in South-East Asia and Brazil, but slowdowns in China and Mexico.

For the year as a whole, PepsiCo is revising its sales forecasts downwards: instead of organic sales growth of at least 4%, the brand manufacturer is now only expecting growth of a few per cent. The company is promising to invest in core products such as Lays and in offers to stimulate volume growth.

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