Pepsico CEO: Higher Gas Prices are Cutting into Snack Budgets
Dow Jones
Jul 09
0859 ET - The Iran war is having a meaningful impact on PepsiCo's business in the U.S. and across the world, CEO Ramon Laguarta says on a call with analysts. Currently, consumers are buying fewer snacks as they pay more at the gas pump. As a result, PepsiCo has seen a slowdown in the conversion of traffic into purchases. "Will it change in the coming months?" Laguarta asks: "It all depends on the price of gas." Looking ahead, PepsiCo will continue trying to win back cost-conscious customers by cutting more prices, Laguarta says. PepsiCo falls 3% premarket. (connor.hart@wsj.com)
(END) Dow Jones Newswires
July 09, 2026 08:59 ET (12:59 GMT)
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