PepsiCo expects fiscal 2024 organic sales to grow in a low single-digit range. It had previously forecast a 4% rise
cut its forecast for annual sales growth on Tuesday as picky consumers in North America limit their spending on sodas and savoury snacks, while opting for cheaper private-label brands.
A rise in prices for food and other products has forced consumers to curtail their spending habits, opt for smaller packages and portions, and shop less at convenience stores, which typically account for a bigger portion of PepsiCo’s beverage sales. “Pepsi’s variety of top-class brands has done well to soften the blow of the Quaker Oats fallout somewhat. But if demand doesn’t pick up soon, profits will start to come under pressure,” Hargreaves Lansdown analyst Aarin Chiekrie said.
Elevated geopolitical tensions, including the Middle East conflict, and macroeconomic pressure are expected to persist in some international markets, CEO Laguarta said.
Pepsico Profit Portion Spending Company Pressure Revenue Mountain Dew Ramon Laguarta Hargreaves Lansdown
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