Doritos, Ruffles, and some PepsiCo Sodas Will Be Getting More Expensive Soon
The company will lift prices on Doritos, Ruffles and some sodas by single-digit percentages and cut costs after North America sales weakened.
- Following disappointing North American sales, PepsiCo plans to raise prices on snacks and sodas to recoup rising costs for fuel, aluminum, and agricultural commodities.
- Activist investor Elliott Investment Management took a $4 billion stake last fall, pressing PepsiCo to lower prices after the company had implemented double-digit hikes during 2022 and 2023.
- Net revenue rose 5.6% to $3.07 billion in the July-September period, with international business accounting for 41% of revenue; net income increased 17% to $3.07 billion, yielding adjusted earnings of $2.34 per share.
- CEO Laguarta expressed dissatisfaction with beverages, stating "we don't feel good about the beverage business" as soda sales slumped; the company's $178 million tariff refund will not be available in coming quarters.
- Lowering full-year earnings expectations, PepsiCo now projects adjusted earnings per share growth of 2.5% to 3.5%, though risks persist as many American households remain financially stretched.
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30 Articles
The Independent
Doritos and other Pepsi Co snacks are about to get more expensive
The move follows two years of aggressive price hikes that drove consumers away, forcing temporary discounts that have now failed to restore long-term growth
PepsiCo raising prices on Doritos, Ruffles, SunChips and some sodas after recent cuts
PepsiCo is raising prices on some of its popular chips and sodas, including Doritos, Ruffles and SunChips, just months after cutting prices in an effort to win back inflation-weary shoppers.
The Economic Times
Times of IndiaPepsiCo is raising prices on Doritos and more after a weak quarter in America
PepsiCo plans to raise prices on certain snack foods and beverages due to increased costs. The price increase will be in the single-digit percentage range, although it remains lower than earlier this year. Consumption patterns indicate demand in their international market, contributing to a revenue rise of 5.6%. However, the North American beverage business continues to struggle, leading to adjusted earnings expectations.
'We don’t feel good': PepsiCo plans price hike on Doritos, Ruffles, SunChips and sodas after offsetting costs with $178 million tariff refund
Yet there are risks for U.S. companies that raise prices in the current economic environment, with so many American households already stretched financially.
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