Page 2 - Pepsico

CM Naidu pitches Visakhapatnam for Google's chip centre, green energy hub

Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday requested tech powerhouse Google to consider Visakhapatnam as a probable chip design and manufacture centre. With Google ramping up its chip production for server operations, Naidu, during the World Economic Forum (WEF) in Davos, Switzerland, pitched the port city as an ideal location for the company to set up a chip design centre. "Naidu requested Google Cloud CEO Thomas Kurian to explore opportunities in Visakhapatnam for a chip design centre, as Google is now manufacturing its chips for server operations," an official release stated. The CM also appealed to Kurian to establish a chip manufacturing unit in the state, integrating it into the Google Cloud server supply chain, and expressed his desire for Andhra Pradesh to become a hub for Google's server operations. "Had an engaging discussion with Thomas Kurian, CEO of Google Cloud, and Andre Nakazawa, ManagerInternational Organisation at Google. We explored the latest

PepsiCo partners with Tata's Ching's Secret to launch new Kurkure flavour

The flavour is available at three price points of Rs 5, Rs 10 and Rs 20 across India

US lawsuit accuses Pepsi of favouring Walmart over smaller stores

The Federal Trade Commission sued PepsiCo on Friday, alleging that it has engaged in illegal price discrimination by giving unfair price advantages to one big-box retailer at the expense of other vendors and consumers. The benefiting customer wasn't named in an FTC statement about the lawsuit. But a source familiar with the case, who asked not to be named because they were not authorised to it, said the retailer was Walmart. PepsiCo said the lawsuit is wrong on the facts and the law and misunderstands the way consumer product companies help retailers provide lower prices. PepsiCo strongly disputes the FTC's allegations, and the partisan manner in which the suit was filed. We will vigorously present our case in court, the company said in a statement. The FTC said PepsiCo's practices included making promotional payments to Walmart but not to large grocery chains or independent convenience stores. The FTC said that allows Walmart to lower its prices, but forces Americans to pay inflat

US FTC files case against PepsiCo over exclusive discounts to Walmart

The practices fed high consumer prices by placing at a disadvantage other retailers, from large grocery chains to independent convenience stores, the FTC said

PepsiCo eyes stake in Haldiram: Rs 90,000 cr valuation sparks competition

Haldiram's Rs 90,000 crore valuation has sparked a race among investors, including PepsiCo, Temasek, and others, aiming to capitalise on India's booming ethnic snacks market

PepsiCo beats New York state's lawsuit over single-use plastics pollution

James sued PepsiCo and its Frito-Lay unit last November, seeking to hold them liable for endangering Buffalo's water supply by generating 17% of the plastic waste found in and near the Buffalo River

PepsiCo closing 4 US bottling plants, cutting 400 jobs to streamline ops

PepsiCo said Wednesday it plans to close four US bottling plants and lay off nearly 400 workers as part of its efforts to streamline its operations. The company said the closures will impact 136 workers in Cincinnati; 131 in Chicago; 127 in Harrisburg, Pennsylvania; and fewer than 50 in Atlanta. The Chicago plant is the only one that will fully close. PepsiCo confirmed that closure earlier this week. The company said sales, delivery and warehouse functions will continue at the other three locations. Earlier this month, PepsiCo lowered its sales forecast for the year as consumers in the US, China and elsewhere pulled back on buying its drinks and snacks after years of price hikes. PepsiCo's North American beverage sales fell 3 per cent in both the second and third quarters of this year. PepsiCo's net income fell 5 per cent to USD 2.9 billion in the July-September period. The company has repeatedly said it is sharply focused on efficiency and productivity gains. PepsiCo, which is ba

PepsiCo, Coca-Cola eye budget soft drinks to compete with Reliance's Campa

PepsiCo and Coca-Cola plan to launch budget-friendly soft drinks, known as B-brands, to safeguard the premium status of their flagship products and preserve profit margins

Pepsi, Coke bottlers face can, sugar shortage in West Bank; prices soar

Sugar and cans previously were transported to West Bank bottlers from Jordan via the bridge, which has been closed for quite some time now

Beverage major PepsiCo sees double-digit organic revenue growth in India

In the AMESA (Africa, Middle east, South Asia) region the company's convenient foods unit volume declined 3 per cent in the 12 weeks ended September 7

PepsiCo cuts sales forecast as customers limit spending on snacks, sodas

The packaged food giant now expects fiscal 2024 organic sales to grow in a low single-digit range. It had previously forecast a 4 per cent rise

UP CM Yogi unveils Rs 1,170 cr Pepsico bottling plant in Gorakhpur

Uttar Pradesh Chief Minister Yogi Adityanath on Sunday said the state's strong security environment and zero-tolerance policy towards crime have disturbed those who once saw crime as a profession. The chief minister was speaking at the inauguration of a new soft drink bottling and dairy product plant by Varun Beverages, a franchisee of PepsiCo, which was set up with an investment of Rs 1,170 crore near the Gorakhpur Link Expressway. "The state's strong security environment and zero-tolerance policy towards crime have disturbed those who once saw crime as a profession. Investment flourishes only in a secure environment. If people don't feel safe, their capital will also not be safe," he said. Stating that Prime Minister Narendra Modi has called upon the youth to focus more on entrepreneurship instead of jobs, he said entrepreneurship is the most important medium to get more opportunities for employment. Adityanath said the developed countries have prioritized entrepreneurship, resea

From PepsiCo to P&G, India becomes next big FMCG growth bet as China lags

With India's economy expanding at the fastest pace among major emerging markets, companies are trying to serve its diverse palette

P&G records surprise sales drop as demand slows despite price restraint

The company's rivals, including Nestle and Unilever , also reported first-half sales growth below expectations

Varun Beverages Q2 results: Net profit rises 26% to Rs 1,253 crore

The company, which follows the January-December financial year, had reported a net profit of Rs 994 crore in the year-ago period

PepsiCo India's profit at Rs 200 cr during Apr-Dec, revenue at Rs 5,794 cr

The food and beverage giant in India changed its financial year to January-December from April-March to align with its parent company

PepsiCo India revenue in Apr-Dec 2023 at Rs 5,954 cr, profit at Rs 217 cr

Pepsico India Holdings' consolidated revenue from operations during April-December 2023 was at Rs 5,954.16 crore and profit was Rs 217.26 crore, according to financial data accessed by business intelligence platform Tofler. Total income, which also includes other income, was at Rs 6,094.70 crore in the nine-month period. The company has changed its financial year from April-March to January-December, hence it has come out with three quarters results of 2023. It follows the calendar year as financial year from January 2024. During the nine months, its revenue from sales in the domestic market was at Rs 5,533.63 crore. Exports contributed Rs 266.19 crore to the total revenue of the company, which is not a publicly listed entity. Revenue from the snacks business in which it operates with brands including Kurkure, Lays, Doritos and Quaker was at Rs 4,763.29 crore. Pepsico India's revenue from the beverages business in which it operates with fizz-based drinks and juices with brands suc

Varun Beverages to set up production units for PepsiCo in Zimbabwe, Zambia

Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday said its two subsidiaries plan to enter into an agreement with the multinational food and beverages major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. The company plans to set up manufacturing units in Zimbabwe and Zambia entailing an investment of USD 7 million (around Rs 60 crore), according to a regulatory filing by Varun Beverages Ltd (VBL). Through its subsidiaries - VFZ Varun Foods (Zimbabwe) Pvt Ltd (VFZ) and Varun Beverages (Zambia) Ltd (VBZ), VBL has discussed with PepsiCo to further strengthen and expand the latter's footprint in the snacks portfolio. It has discussed with PepsiCo to enter into an exclusive snacks franchising appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute and sell 'Simba Munchiez' in the territory of Zimbabwe and Zambia, the filing added. "As per the understanding, an estimated ...

India a big, long-term growth market, says beverage major PepsiCo

Beverage major sees double-digit growth in convenient foods, beverages in Q2 in India

PepsiCo profits jump in June quarter; net income rises 12% to $3 bn

PepsiCo reported higher-than-expected earnings in the second quarter even as customer demand for its snacks and drinks continued to slip. The Purchase, New York-based company said its net income rose 12% to $3 billion, or an adjusted $2.28 per share, for the April-June period. Wall Street had expected earnings of $2.16 per share. PepsiCo said its revenue grew less than 1% to $22.5 billion. That was slightly lower than the $22.59 analysts forecast. PepsiCo has leaned heavily into price increases over the past two years as its costs for ingredients and packaging rose. The fourth quarter of 2023 was the company's eighth straight quarter of double-digit percentage price increases. Prices rose 5% in the first quarter and 3% in the most recent quarter. But those higher prices have hurt demand. PepsiCo's global sales volumes have fallen for the last eight quarters. The company says some of that volume decline is strategic, since it has been shrinking package sizes. But it has also says ..