PepsiCo Financial News

Investing.com — U.S. stocks were rising on Tuesday, boosted by dovish comments from Fed officials that suggested the central bank could be near the end of its rate hikes.

PepsiCo on Tuesday said its Indian business delivered a «double-digit growth» in beverage unit volumes in the third quarter of 2023. However, its «convenient foods business» had a «mid-single-digit» decline in unit volume in the September quarter, according to a global earnings statement from the food and beverages major.

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PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices

Investing.com — U.S. stock futures rose Tuesday, boosted by lower U.S. Treasury yields as investors digested commentary from Fed officials while keeping an eye on developments in the conflict between Israel and Hamas.

Investing.com — PepsiCo Inc (NASDAQ:PEP) has posted better-than-expected core income in the third quarter and raised its full-year profit guidance, as the beverage maker was boosted by higher pricing that helped offset a drop in volumes.

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Identifying India as its priority market, British coffee chain brand, Costa Coffee’s global CEO Philippe Schaillee on Friday said that it will add 50 more speciality coffee stores in the country. The company, which is now owned by beverages major Coca-Cola, recently opened its 150th store in the country.

Haldiram’s, India’s favourite ‘chakna’ maker, has just become a billion-dollar brand. In its remarkable growth story – of taking on both multinational food giants and the corner halwai and beating them at their own game – lies a salutary lesson for any global company that wishes to crack the 1.4-billion-strong Indian market: listen to the Indian consumer or perish. Global giants that have come to play the long game in India have learnt this the hard way.

FMCG companies to push demand have distributors in a tizzy as they struggle for shelf space to manage inventory, prompting them to reach out to the government to restrict the number of pack sizes to four. Packaged products companies have hit back saying that is not feasible as consumer and channel requirements are differentiated. New smaller packs are «placing extra burden on retailers as they have to keep on adding new packs, leading to inventory management challenges, and impacting distribution efficiency,» said Dhairyashil Patil, national president of All India Consumer Products Distributors Federation (AICPDF). The federation, which represents more than 400,000 distributors and stockists, has written to the government suggesting there should only be four pack sizes — entry, small, medium, and large. Nestle, Hindustan Unilever, Britannia, Parle Products, Dabur, ITC and Coca-Cola are among many others that have launched multiple low-priced packs across noodles, toothpaste, soaps, soft drinks and biscuits as a strategy to counter the consumption slowdown due to inflation. They are also using smaller packs to fight off increased competition from regional brands. Products at the entry level are being packaged in multiple price points of Rs 5, Rs 7, Rs 10, Rs 14, Rs 15 and Rs 20, unlike earlier fixed pack prices such as Rs 5, 10 and 20. Nestle's entry-level Maggi noodles is now available in packs of Rs 7, 10 and 14, in addition to multiple large packs. «New pack sizes are introduced by companies on the basis of consumer convenience, pricing and need for smaller packs.

In the year ended March 2023, Haldiram's snacks sales hit ₹9,215 crore ($1.1 billion), a 19% increase from a year ago, according to Nielsen data cited by industry officials. In comparison, PepsiCo's snack sales were ₹6,430 crore ($773 million) while Gujarat-based Balaji Wafers took in ₹5,296 crore ($637 million). Haldiram's overtook PepsiCo about five years ago to become the country's largest snack brand, and has since widened the sales gap.

power ministry has allocated 179 MW of power to Assam from Dadri-I Plant of NTPC In a letter Hausuanthang Guite Under Secretary to the Chairperson, Central Electricity Authority stated, “In view the power relinquished by Government of Delhi in NTPC Dadri-l Plant and the request of Government of Assam, it has been decided to allocate the 179 MW Power (currently allocated to Haryana upto 30.09.2023 vide allocation order dated 28.10.2022) of NTPC's Dadri-l Plant to Assam w.e.f. 01.10.2023 for a period of one year at CERC determined tariff.The beneficiary is required to sign PPA and enters into commercial arrangements/ maintains LC with the allocated power”. Assam Chief Minister Himanta Biswa Sarma called on Union Power Minister, RK Singh recently.

₹2 crore in damages, alleging unfair trade practices by Parle Agro. In 2017, PepsiCo began producing Doritos in India at its Kolkata plant.

₹2 crore in compensation for alleged unfair trade practices by Parle Argo. In 2017, PepsiCo began producing Doritos in India at its Kolkata plant.

Investing.com — Starbucks Corporation (NASDAQ:SBUX) said chairman emeritus Howard Schultz would step down from its board effective today as part of a planned transition.

The U.S. government has just released the August inflation report, with numbers revealing that CPI has continued to rise at a pace far more quickly than the 2% rate the Fed considers healthy for the economy.

Hardik Pandya to endorse its sports drink Gatorade -the first time the sports brand will be endorsed by a cricketer. Previously, badminton player PV Sindhu and javelin star Neeraj Chopra have been associated with Gatorade. Ankit Agarwal, associate director, hydration & energy at PepsiCo India said the partnership with Pandya will help “deepen the brand’s connection with the sports, fitness and active-lifestyle community.” The cricketer is associated with over a dozen brands.

Reliance's Campa gearing up for a 'second summer' to coincide with the cricket season, after the peak quarter of April-June got washed out because of unseasonal rains. PepsiCo is roping in cricketer Hardik Pandya for its Gatorade sports drink brand, while Reliance, which launched the Campa Cricket drink last week, is planning to advertise extensively on the World Cup by leveraging its own Mumbai Indians team. Coca-Cola, meanwhile, is investing in sponsorship deals for both the Asia Cup and the World Cup. «With Hardik, we aim to actively engage with the fitness and active lifestyle community, and help them in being rehydrated, replenished and refuelled,» Ankit Agarwal, associate director, hydration & energy at PepsiCo India, told ET.

Carrefour is set to attach labels to products sold in its stores warning shoppers of what it deems to be “shrinkflation", the latest volley against the major food producers accused of trying to profit from inflation. From Monday next week, all products that Carrefour claims to be practicing shrinkflation—when a product has become smaller but the price charged by the supplier has risen without changes to the recipe or packaging—will be labeled as such, the French supermarket chain said Friday. The bright orange label, measuring about five square inches, also informs consumers that Carrefour is committed to re-negotiating the price of the product in question.

coronavirus pandemic as online shopping for groceries became the norm. Instacart raised $2.74 billion as a startup and was valued at $39 billion in 2021, according to data provider PitchBook.

PepsiCo was performed in Assam's Nalbari district on Wednesday. Chief Minister Himanta Biswa Sarma participated in the programme and said that the state is looking at a bright future in terms of private investment. «Today we marked the beginning of a Rs 770 cr PepsiCo plant in Nalbari.