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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.
Quaker Oats expands recall of granola products over salmonella concerns
Read full article: Quaker Oats expands recall of granola products over salmonella concernsQuaker Oats on Friday expanded its recall of several of its granola products to include cereals, bars and snacks, saying the foods could be contaminated with salmonella.
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 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, Starbucks, Coke, Pepsi join exodus out of Russia
Read full article: McDonald's, Starbucks, Coke, Pepsi join exodus out of 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.
Leibovitz photo fronts memoir by business leader Indra Nooyi
Read full article: Leibovitz photo fronts memoir by business leader Indra NooyiAfter 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.
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.
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.
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.
PepsiCo buys stake in Chinese natural food company
Read full article: PepsiCo buys stake in Chinese natural food companyJustin Sullivan/Getty Images(CNN) - PepsiCo is taking a stake in one of China's largest natural food producers as it seeks to capitalize on the global health food craze. The American soda and snack company said Friday that it was buying 26% of Natural Food International for $131 million, becoming the company's second largest shareholder. Shares in Natural Food International added 14% in Hong Kong. Natural Food International, which makes products from grains, nuts, and beans, is the country's second largest natural food producer by retail sales, according to the statement. Natural Food International is known for making powder products from ingredients including black sesame, walnuts, goji berries and chia seeds.