07/12/2022

PepsiCo Indicates Sodas, Snacks Could Get Even Pricier

Meanwhile, the company posted a 5.2 percent rise in Q2 net revenue

PepsiCo Inc. raised its full-year revenue forecast on Tuesday and said it could increase prices further in the coming months, with the beverage giant seeing little impact on demand for its sodas and snacks despite decades-high inflation.

Pandemic-induced disruptions to the global supply chain and surging raw material costs drove PepsiCo, like other packaged food makers, to increase prices for its products; however, some retailers have pushed back against those hikes citing waning consumer demand.

However, PepsiCo Chief Financial Officer Hugh Johnston told Reuters the company had not seen any slowdown in demand in response to its price hikes, largely implemented late last year, and that there was room for prices to go further up.

Please select this link to read the complete article from Reuters.