WEATHER ALERT
Kraft Heinz lowers sales outlook for the year, weighed down by consumer uncertainty and tariffs
Read full article: Kraft Heinz lowers sales outlook for the year, weighed down by consumer uncertainty and tariffsKraft Heinz lowered its full-year sales and earnings guidance Tuesday, citing weaker customer spending in the U.S. and the impact of President Donald Trump’s tariffs.
Coca-Cola reports better-than-expected quarterly profit, says it can manage through tariffs
Read full article: Coca-Cola reports better-than-expected quarterly profit, says it can manage through tariffsCoca-Cola reported better-than-expected earnings in the first quarter and said the impact of tariffs on its business are likely to be “manageable.”.
Tariff turmoil: What P&G, Pepsi and other companies are saying about tariffs
Read full article: Tariff turmoil: What P&G, Pepsi and other companies are saying about tariffsTariff worries continue hanging over companies as they report their latest financial results and try to provide guidance on their path ahead.
PepsiCo lowers full-year earnings forecast on tariff costs and lower consumer spending
Read full article: PepsiCo lowers full-year earnings forecast on tariff costs and lower consumer spendingPepsiCo lowered its full-year earnings expectations Thursday, citing increased costs from tariffs and a pullback in consumer spending.
Al Sharpton calls meeting with Target's CEO amid DEI backlash 'very constructive and candid'
Read full article: Al Sharpton calls meeting with Target's CEO amid DEI backlash 'very constructive and candid'Target’s chief executive officer has met with the Rev. Al Sharpton, whose civil rights organization has encouraged consumers to avoid U.S. retailers that scaled backed their diversity, equity and inclusion initiatives.
PepsiCo agrees to meet with Al Sharpton over DEI cuts, potential boycott
Read full article: PepsiCo agrees to meet with Al Sharpton over DEI cuts, potential boycottFood and beverage giant PepsiCo has agreed to meet this week with civil rights advocates from the National Action Network to discuss the company’s recent decision to roll back some of its diversity, equity, and inclusion initiatives.
Al Sharpton calls on PepsiCo to restore DEI initiatives, threatens boycott
Read full article: Al Sharpton calls on PepsiCo to restore DEI initiatives, threatens boycottThe Rev. Al Sharpton has written to the CEO of PepsiCo giving the company three weeks to meet with him — or suffer a boycott — to discuss reversing the company’s recent move to do away with its diversity, equity and inclusion initiatives, according to a letter shared with The Associated Press.
US lawsuit accuses PepsiCo of price discrimination that favored Walmart over smaller stores
Read full article: US lawsuit accuses PepsiCo of price discrimination that favored Walmart over smaller storesA lawsuit filed by the Federal Trade Commission alleges that food and beverage maker PepsiCo engaged in illegal price discrimination by giving unfair price advantages to one big-box retailer.
PepsiCo is closing 4 bottling plants and cutting nearly 400 jobs as it streamlines operations
Read full article: PepsiCo is closing 4 bottling plants and cutting nearly 400 jobs as it streamlines operationsPepsiCo says it plans to close four U.S. bottling plants and lay off nearly 400 workers as part of its efforts to streamline its operations.
PepsiCo lowers revenue forecast on "subdued" sales in US, China and elsewhere
Read full article: PepsiCo lowers revenue forecast on "subdued" sales in US, China and elsewherePepsiCo lowered its sales forecast for the year after consumers in the U.S., China and elsewhere pulled back on its snacks and drinks.
PepsiCo's second quarter profits jump but customers slow their purchases after years of price hikes
Read full article: PepsiCo's second quarter profits jump but customers slow their purchases after years of price hikesPepsiCo reported higher-than-expected earnings in the second quarter but acknowledged that after raising prices every quarter for more than two years, customers are not buying as many of its snacks and drinks.
US inflation cools again, potentially paving way for Fed to cut interest rates soon
Read full article: US inflation cools again, potentially paving way for Fed to cut interest rates soonInflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve.
PepsiCo products are being pulled from some Carrefour grocery stores in Europe over price hikes
Read full article: PepsiCo products are being pulled from some Carrefour grocery stores in Europe over price hikesGlobal supermarket chain Carrefour will stop selling PepsiCo products in its stores in France, Belgium, Spain and Italy over price increases for popular items like Lay’s potato chips, Quaker Oats and its namesake soda.
New York sues PepsiCo in effort to hold it responsible for litter that winds up in rivers
Read full article: New York sues PepsiCo in effort to hold it responsible for litter that winds up in riversNew York state has sued PepsiCo in an effort to hold the soda-and-snack food giant partly responsible for litter that winds up in bodies of water that supply the city of Buffalo with drinking water.
PepsiCo is donating $50K to Prairie View A&M University during the college’s homecoming this Saturday: Here’s why
Read full article: PepsiCo is donating $50K to Prairie View A&M University during the college’s homecoming this Saturday: Here’s whyThis week, Prairie View A&M University is celebrating educational excellence amongst alumni and current students, but the university is also receiving a big gift to address a critical need amongst institutions of higher learning across the nation.
PepsiCo hikes prices by double digits for the 7th consecutive quarter and profits jump 14%
Read full article: PepsiCo hikes prices by double digits for the 7th consecutive quarter and profits jump 14%PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices.
PepsiCo raises 2023 profit expectations as price hikes offset falling sales volume
Read full article: PepsiCo raises 2023 profit expectations as price hikes offset falling sales volumePepsiCo saw lower demand for its drinks and snacks in the second quarter but higher prices continued to boost its bottom line.
McDonald’s to temporarily close 850 stores in Russia
Read full article: McDonald’s to temporarily close 850 stores in RussiaMcDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric all announced Tuesday they were suspending their business in Russia in response to the country’s invasion of Ukraine.
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Leibovitz photo of Indra Nooyi to appear on Nooyi's memoir
Read full article: Leibovitz photo of Indra Nooyi to appear on Nooyi's memoirAfter decades of photographing rock stars, movie stars and heads of state, Annie Leibovitz has added a business leader to her portfolio, former PepsiCo CEO Indra Nooyi.
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Former PepsiCo CEO Indra Nooyi has memoir out in September
Read full article: Former PepsiCo CEO Indra Nooyi has memoir out in SeptemberFILE - Indra Nooyi participates in an event on Oct. 9, 2018, in New York. The former PepsiCo CEO has a memoir titled "My Life in Full: Work, Family and Our Future" coming out Sept. 28, 2021. (AP Photo/Seth Wenig, File)NEW YORK – Former PepsiCo CEO Indra Nooyi has a memoir coming out this fall that her publisher is calling an “unvarnished take" on her rise to becoming one of the world's most powerful women. “My Life in Full: Work, Family and Our Future" will be published Sept. 28, Portfolio Books announced Monday. She worked at PepsiCo for 24 years, 12 of them as CEO, before stepping down in 2018.
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PepsiCo goes Beyond Meat in new partnership
Read full article: PepsiCo goes Beyond Meat in new partnershipPepsiCo is joining forces with Beyond Meat to develop new snacks and drinks made from plant-based proteins. (AP Photo/David J. Phillip, File)PepsiCo and Beyond Meat are creating a joint venture to develop snacks and drinks made from plant-based proteins. The join venture gives Pepsi access to one of the leading plant-based meat companies at a time when consumers are increasingly cutting back on meat consumption and looking for healthier, more sustainable foods. Meat giant Tyson Foods, which used to own a stake in Beyond Meat, now has its own line of plant-based meats. U.S. sales of plant-based meat jumped 45% in the 52 weeks ending Jan. 16; traditional meat sales rose 19% in the same period, according to NielsenIQ, a data firm.
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Aunt Jemima brand retired by Quaker due to racial stereotype
Read full article: Aunt Jemima brand retired by Quaker due to racial stereotypeA box of Aunt Jemima pancake mix sits on a stovetop Wednesday, June 17, 2020, in Harrison, N.Y. Pepsico is changing the name and marketing image of its Aunt Jemima pancake mix and syrup, according to media reports. (AP Photo/Courtney Dittmar)NEW YORK – America’s painful struggles over racism have finally caught up with Aunt Jemima, that ubiquitous fixture served up at breakfast tables for 131 years. Quaker Oats announced Wednesday that it will retire the Aunt Jemima brand, saying the company recognizes the character’s origins are “based on a racial stereotype.” Indeed, the logo was inspired by 19th century minstrel celebrating the “mammy,” a black woman content to serve her white masters. Richardson said Aunt Jemima epitomizes the dark comfort that some Americans take from imagery of black servitude, so normalized that it's on their box of pancake mix. Earlier this week, the singer Kirby posted a TikTok video called “How to Make a Non Racist Breakfast” explaining some of the backstory of the Aunt Jemima brand.