PepsiCo's shares drop as North America beverage sales fall [Reuters]
PepsiCo, Inc. (PEP)
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Source: Reuters
PepsiCo's shares drop as North America beverage sales fall | Reuters 3 Min Read (Reuters) - PepsiCo Inc’s ( PEP.N ) shares fell on Wednesday after weak demand for Gatorade and some marketing missteps led to a drop in beverage sales in North America for the first time in two years, and the company lowered its full-year organic revenue growth forecast. The weak demand for Gatorade, which accounted for a fifth of total sales volume in the region, was due to relatively mild summer, while sales of other beverages were hit by a slowdown in traffic at convenience stores, Chief Executive Indra Nooyi said on a conference call. “This summer, we directed too much of our media spending and shelf space to low-calorie, much smaller brands at the expense of our Pepsi and Mountain Dew trademarks,” Nooyi said. Revenue from PepsiCo’s North America beverage unit, the company’s largest, fell 3.4 percent to $5.33 billion in the third quarter ended Sept. 9 due to a 6 percent drop in volume sales. The dro
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