Check out the display of Pepsi bottles at a grocery store in Las Vegas, United States on November 17, 2023.
Photographed by Jakub Porzycki | Nurphoto | Getty Images
PepsiCo recently released its quarterly results, revealing a decline in North American demand for its products.
CEO Ramon Laguarta attributed the slowdown in U.S. sales to pricing and consumers’ disposable income situation.
He also noted a shift in consumer behavior, with more people purchasing snacks and Gatorade from convenience stores rather than consuming them at home.
Despite this, Laguarta remains optimistic about the overall state of the consumer, citing low unemployment rates and the potential for interest rates to fall and wages to rise.
Following the announcement, the company’s shares closed down 3.5% on Friday.
Here’s a breakdown of the company’s report compared to Wall Street’s expectations, based on analyst surveys…
2024-02-09 16:10:47
Source from www.cnbc.com