Pepsi Says Pricing Lifts Results–Update | Fox Business

PepsiCo Inc. said higher pricing helped boost results in the latest quarter as volumes of its snacks and beverages in North America were pressured amid shifting consumer tastes.

Chief Executive Indra Nooyi said first quarter profit and revenue, which topped Wall Street estimates, came “despite challenging food and beverage industry trading conditions in North America and continued volatility in a number of developing and emerging markets.”

The Purchase, N.Y., maker of Frito Lay snacks, Gatorade and its namesake cola has been putting an emphasis on products it dubs “guilt-free,” which include diet sodas as well as snacks with low levels of sodium and saturated fat, as consumers look for alternatives to sugary snacks and drinks. The company is aiming for sales growth of such products to outpace the rest of its portfolio by 2025.

For example, as bottled water consumption outpaces soda in the U.S. for the first time, Pepsi is trying to get a piece of the premium bottled-water category with LIFEWTR, which made its debut with a Super Bowl ad this year to compete with Coca-Cola Co.’s smartwater.

Read complete article here:

Pepsi Says Pricing Lifts Results–Update | Fox Business.