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PepsiCo (NASDAQ:PEP) Price Target Lowered to $142.00 at Citigroup
PepsiCo says the increases will stay below earlier prices as the company tries to offset inflation and weak North American food sales.
- PepsiCo Inc. plans to raise prices on select chips, sodas, and dips by late 2026 or early 2027, reversing a strategy that sought to make snacks more affordable.
- Following weak North American food results that showed a 2% revenue decline, CEO Ramon Laguarta attributed the shift to higher gas prices and strained consumer spending.
- Tostitos salsa jars will rise to $4 and $5.50, while Fritos canned dips will reach $3.75, reversing the 15% price cuts implemented in February.
- Retailers will ultimately determine whether to absorb these increases or pass them to shoppers, a dynamic causing friction at Kroger over other brands like Red Bull.
- Other food companies, including Campbell's Co. and Conagra Brands Inc., are also raising prices due to sustained energy and fertilizer costs, plus import tariffs, amid 0.4% inflation in August.
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PepsiCo to raise prices of some chips, sodas, Bloomberg News reports
Sept 24 (Reuters) - PepsiCo is set to hike some prices after price cuts from earlier this year failed to boost sales, Bloomberg News said on Thursday citing people familiar with the matter. (Reporting by Anuja Bharat Mistry in Beng...
The new costs will be lower than the levels they were at before the price cuts earlier this year.
Coverage Details
Total News Sources10
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
Factuality
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