PepsiCo has forecasted its annual profit to fall below market estimates, citing weak demand for its soda and snack products. The company’s latest financial outlook reflects broader challenges in the consumer goods sector, including shifting consumer preferences and economic pressures.
The beverage and snack giant reported a 4% decline in quarterly revenue, with soda sales dropping by 6% and snack sales falling by 3%. “We are taking proactive steps to address these challenges and adapt to changing consumer preferences,” said a PepsiCo spokesperson.
Analysts attribute the decline to increased competition from healthier alternatives and a growing preference for low-sugar and low-calorie options. “PepsiCo needs to innovate and diversify its portfolio to stay competitive,” said a market analyst.
