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PepsiCo shares are down nearly 4% after the soda-and-snacks giant’s results showed that consumer cost pressure isn’t abating. "Will it change in the coming months? It all depends on the price of gas," CEO Ramon Laguarta said on an investor call Thursday.
PepsiCo Inc (NASDAQ:PEP, XETRA:PEP) shares fell about 4% on Thursday after the food and beverage company reported fiscal second-quarter adjusted earnings that came in slightly below Wall Street expectations, despite revenue topping estimates and the company reaffirming its full-year...
International markets drove top-line growth, but North American beverage volume fell 4% and the company warned of a gradual domestic recovery
<body><p>STORY: Walmart said Monday it would cut prices on many summer barbecue favorites, including meat, chips and soda.</p><p>The move comes after U.S. President Donald Trump said the retailer was acting at his administration's request.</p><p>In a Truth Social post, he said Walmart would be lowering prices significantly, "to celebrate our great Country's 250th birthday."</p><p>Trump said the firm would, “be dropping the price for a pound of ground beef by almost 15%.”</p><p>Walmart said in a statement that the price of one pound of 73% ground beef roll would drop to $5.94 from $6.74 in its stores, a decline of about 12%.</p><p>The retailer also said it lowered prices on items including Coca-Cola and PepsiCo sodas and chips.</p><p>Prices for steaks and hamburger meat soared after a persistent drought burned pasture lands and hiked costs of cattle feed, forcing U.S. ranchers to slash their herds.</p><p>Now the price cuts mark a notable shift from last year, when Walmart warned that tariffs would push some prices higher, a move Trump had rebuked.</p><p>The president had previously encouraged low-tariff imports of Argentine beef to cool U.S. prices, which angered American ranchers.</p><p>He had also directed the Department of Justice to investigate whether U.S. meatpackers were colluding to raise prices.</p><p>Walmart is widely viewed by economists and investors as a gauge of U.S. consumer health because of its size and broad customer base.</p></body>
While PepsiCo faces slowing North American demand, international growth remains a key source of optimism.
BUSINESS Many entrepreneurs toil for years toward a big payday. Is a successful exit more luck or skill? I posed that question to Allison Ellsworth, the co-founder of beverage company Poppi, in the latest episode of The WSJ Money Interview.
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