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PepsiCo to Raise some Prices After Cuts Failed to Grow Sales
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 showing a 2% revenue decline, PepsiCo CEO Ramon Laguarta cited higher gas prices and strained consumer spending for the shift.
- 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 currently causing friction at chains like Kroger over 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 is raising the prices of some French fries, soft drinks and sauces, just a few months after it has committed itself to making its appetizers more affordable.
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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...
Coverage Details
Total News Sources12
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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