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- PepsiCo Inc on Tuesday raised its annual profit forecast for a third time this year, as the company banks on the multiple price increases it undertook across its major markets and resilient demand for its snacks and beverages.PepsiCo and rival Coca-Cola have been largely shielded from the effects of price hikes due to their near-domination of the global carbonated drinks market, as well as cost-conscious consumers spending on products categorized as"affordable luxuries".
The company's average prices jumped 11% in the third quarter ended Sept. 9, while organic volume slipped 2.5%. That compared with an average price increase of 16% in the first quarter of 2023.
France Dernières Nouvelles, France Actualités
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