PepsiCo's sales jump after it cuts prices
AP News
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PepsiCo’s price cuts and some new products improved demand for its snacks in the first quarter.
Revenue jumped 8.5% to $19.44 billion in the January-March period compared to the same period a year ago.
That handily beat Wall Street’s forecast of $18.95 billion, according to analysts polled by FactSet.
PepsiCo has been cutting prices on Lay’s, Doritos, Cheetos and Tostitos chips this year to win back customers exasperated by years of price hikes.
New products like Cheetos NKD and Doritos NKD, which have no artificial ingredients are also attracting shoppers.
PepsiCo Beats Earnings Estimates
- PepsiCo says lower snack prices are bringing customers back to brand NY Post —
- Pepsi sees an earnings bump as lower prices and new products attract more shoppers The Independent —
- Pepsico Non-GAAP EPS of $1.61 beats by $0.06, revenue of $19.44B beats by $500M Seeking Alpha —
- PepsiCo Posts Higher Sales as Price Cuts Pay Off Wall Street Journal —
- PepsiCo's price cuts, brand refreshes power quarterly results beat - Reuters Reuters —