Inflation, Pivot to Healthier Snacks Weigh on PepsiCo in Q4
Company Has Focused on Making Snacks More Affordable, Adding Product Promotions, More Chips Per Bag, Value Packs
PepsiCo is closely watching a longer-term trend toward healthier snacking, CEO Ramon Laguarta said. (LM Otero/Associated Press)
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PepsiCo said Feb. 4 that high prices and changing consumer tastes have weakened U.S. demand for its snacks and drinks but it’s confident it can turn that around in the coming year.
The Purchase, N.Y.-based company said its revenue fell slightly to $27.78 billion in the fourth quarter. That was short of Wall Street’s forecast of $27.89 billion, according to analysts polled by FactSet.
U.S. demand flagged last year after two years of outsize, double-digit price increases. The average price of a 16-ounce bag of potato chips peaked at $6.68 in October 2023, accordin…
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