Latest PepsiCo Inc News

McDonald's names its CEO as new board chairman, taps Kimberly-Clark exec as independent director

Mar. 19, 2024 15:18 PM EDT

McDonald’s CEO will become chairman of the company’s board later this spring, the burger chain said Tuesday. Chris Kempczinksi, who was named McDonald’s president and CEO in late 2019, will succeed McDonald’s Chairman Enrique Hernandez Jr., who is retiring after 28 years on...

Federal Reserve's preferred inflation gauge picked up last month in sign of still-elevated prices

Feb. 29, 2024 12:42 PM EST

WASHINGTON (AP) — An inflation gauge favored by the Federal Reserve increased in January, the latest sign that the slowdown in U.S. consumer price increases is occurring unevenly from month to month. The government reported Thursday that prices rose 0.3% from December to January,...

Burger chain Wendy's looking to test surge pricing at restaurants as early as next year

Feb. 27, 2024 11:07 AM EST

Wendy's is looking to test having the prices of its menu items fluctuate throughout the day based on demand, implementing a strategy that has already taken hold with ride-sharing companies and ticket sellers. During a conference call earlier this month, Wendy's CEO Kirk Tanner said...

Consumers are increasingly pushing back against price increases — and winning

Feb. 25, 2024 12:06 PM EST

WASHINGTON (AP) — Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation. Fed up with prices that remain about 19%, on average, above where they were before the pandemic, consumers are fighting back. In grocery...

Retail sales fall 0.8% in January from December as shoppers pause after strong holiday season

Feb. 15, 2024 16:43 PM EST

NEW YORK (AP) — Americans pulled back their spending more than expected in January after the traditional holiday season splurge. Retail sales fell 0.8% in January from the strong pace in December when they rose a revised 0.4%, according to the Commerce Department's report on...

Kraft Heinz sales dip with some Americans swapping out brand name favorites

Feb. 14, 2024 09:58 AM EST

PITTSBURGH (AP) — Sales slipped during the fourth quarter for Kraft Heinz as some customers, pinched by a bout of inflation, traded down to cheaper brands or did not buy as much. A number of food makers, citing inflation, have raised product prices and that has helped preserve...

PepsiCo profit gets a bump on fewer charges, but sales slip after repeated price hikes

Feb. 09, 2024 20:45 PM EST

PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have weakened consumer demand for the company's snacks and drinks. The New York company said Friday that it expects organic revenue growth of at least 4% this...

Stock market today: Wall Street waltzes past its latest milestone as S&P 500 closes above 5,000

Feb. 09, 2024 17:29 PM EST

NEW YORK (AP) — More gains for U.S. stocks on Friday sent Wall Street to its latest record, milestone and winning week. The S&P 500 rose 0.6% and finished a day above the 5,000 level for the first time. It’s the 10th record in less than a month for the index, which closed its...

PepsiCo: Q4 Earnings Snapshot

Feb. 09, 2024 06:08 AM EST

PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Friday reported fourth-quarter net income of $1.3 billion. On a per-share basis, the Purchase, New York-based company said it had profit of 94 cents. Earnings, adjusted for asset impairment costs and non-recurring...

This Week: Ford earnings, consumer borrowing and PepsiCo results

Feb. 05, 2024 01:10 AM EST

A look at some of the key business events and economic indicators upcoming this week: SPORTLIGHT ON FORD Ford reports its fourth-quarter results Tuesday. Wall Street expects that the automaker will report that its earnings and revenue declined in the...