Reported about 6 hours ago
PepsiCo has lowered its organic revenue forecast for the year, anticipating low single-digit growth instead of the previously expected 4%, as U.S. consumers cut back on snacks and drinks. Difficulties included a major recall of Quaker Oats products and reduced demand for Frito-Lay items, with North American beverage volumes falling by 3%. Despite raising prices globally by 3%, sales volumes declined in every market except Europe, contributing to flat third-quarter revenue of $23.3 billion, below Wall Street expectations.
Source: YAHOO