PepsiCo’s earnings call pointed to anxious consumers as to why sales had slowed, echoing comments by Chipotle and Procter & Gamble.
Consumers, worried about the economy, are pulling back on their spending, and that anxiety is translating into lower sales and profits for some of the country’s largest consumer-oriented companies.
On Thursday, PepsiCo cut its full-year guidance outlook, citing a reduction in consumer spending as well as the impact the company is feeling from increased global tariffs.
“Relative to where we were three months ago, we probably aren’t feeling as good about the consumer now,” Jamie Caulfield, the chief financial officer of PepsiCo, told Wall Street analysts and investors on an earnings call Thursday morning.
Uh, no. Its the Ozempic my guys.
I’m on the dang ozempic and I UTTERLY changed my junk food relationship. And, it took zero willpower.
1 in 8 americans are on a GLP drug.
Literally came here to say this.
These companies have more than doubled the prices of their products in the last few months. It’s not anxiety that’s stopping us from buying, it’s the fact that a bag of chips regularly costs more than six litres of milk!
