Latest news with #Tostitos
Reuters
16 hours ago
- Business
- Reuters
Kraft Heinz sauces boost quarterly results as home-cooking rises
July 30 (Reuters) - Kraft Heinz (KHC.O), opens new tab beat estimates for quarterly results on Wednesday, helped by resilient demand for its pantry staples and condiments in the United States as consumers tried to stretch their household budgets. A mix of sticky inflation and heightened economic uncertainty has forced consumers to cook more affordable meals at home instead of eating out. People prioritizing protein in their diets has also boosted demand for Kraft Heinz's steak sauce and Worcestershire sauce. The company's board is "working with urgency" to evaluate strategic options for some brands, executives said on a post-earnings call, following media reports earlier this month that it was exploring a spin-off of the grocery business. Kraft Heinz recorded a $9.3 billion impairment charge in the second quarter due to a steady decline in its market capitalization to $33.8 billion, with the stock value dropping about 30% since 2022. The company reiterated its annual targets and now expects a cost impact of about 100 basis points this year from President Donald Trump's tariffs. Its shares were up 1% in early trade. The Philadelphia Cream Cheese maker has worked on introducing healthier options in some categories such as desserts to capture consumer demand, and has said it would remove food dyes from its portfolio. It also announced plans to change the packaging for Kraft Mayonnaise to highlight the absence of dyes and artificial flavors, weeks after snacks giant PepsiCo (PEP.O), opens new tab said it will rebrand its Lay's and Tostitos chips without those substances. While Kraft Heinz's quarterly volumes fell about 2.7 percentage points due to some weakness in categories such as coffee, cold meat cuts and ready-to-eat meals, the decline was lower than the prior quarter's drop of 5.6 percentage points. In North America, its biggest market by revenue, volumes fell 3.4 percentage points. "Looking ahead, we continue to expect growth in our international business, but we are not contemplating an improvement in the U.S. industry for the rest of 2025," CEO Carlos Abrams-Rivera said in a statement. With consumers seeking value, the company has been investing in promotions, and that, along with inflation, could pressure margins in the current quarter, said Arun Sundaram, analyst at CFRA Research. Net sales for the three months ended June 28 came in at $6.35 billion, beating analysts' average estimate of $6.26 billion, according to data compiled by LSEG. Its adjusted profit of 69 cents per share also beat estimates.
Yahoo
22-07-2025
- Business
- Yahoo
PepsiCo Seemingly Responds to Trump's Remarks on Coca-Cola with This Big Change
PepsiCo Seemingly Responds to Trump's Remarks on Coca-Cola with This Big Change originally appeared on Parade. Let's be honest, friends. The world feels a little bit more than wackadoodle lately, and it's getting hard to keep up with everything that's going on. Floods are raging across the country, there's salmonella in the eggs, plastic is in almost everything, and we still can't agree that everyone deserves the same basic human rights. It's truly pandemonium, and for some reason, the past few years have felt like a decades-long saga without an ending. With all the real-world problems going on, you'd think we'd find something more pressing to focus on instead of seed oils and food dyes, but alas, here we are. Sure, we can all agree that synthetic colorings and extra ingredients that aren't immediately beneficial for food safety and preservation aren't exactly great, but what about combating climate change or ending world hunger? 😋😋🍳🍔 It would seem those problems are a bit too big to tackle, so instead, we'll start by eliminating high fructose corn syrup from soda. With the help of the US Secretary of Health and Human Services, RFK Jr., the Trump administration has been pressuring companies and brands that do business in the United States to reformulate their products to remove dyes and ingredients that could contribute to chronic illnesses and from Heinz to General Mills have all announced their intent to follow suit, and now, thanks to Donald Trump, the soda industry might be next. Just this past Wednesday, the President claimed that Coca-Cola would be switching to real cane sugar in its sodas, prompting the makers of Pepsi to seemingly respond with a major update of their own. The brand announced on Thursday that it would remove artificial colors and flavors from Lay's and Tostitos when they relaunch later this year. It also signaled that it would switch to cane sugar in its products if consumer demand supports it. Additionally, it said that it plans to switch to avocado and olive oils across its brands in an effort to appease shifting consumer sentiment regarding certain oils. While Coca-Cola has neither confirmed nor denied President Trump's claims, the company has made sugar reduction a primary focus across its products—and it looks like Pepsi is gearing up to do the same. Only time will tell if this becomes an industry wide trend. One thing we're sure of, though, is that it won't be a slow news weekPepsiCo Seemingly Responds to Trump's Remarks on Coca-Cola with This Big Change first appeared on Parade on Jul 18, 2025 This story was originally reported by Parade on Jul 18, 2025, where it first appeared. Solve the daily Crossword
Gulf Insider
20-07-2025
- Business
- Gulf Insider
Pepsi Exec Floats Switch To Sugar After Trump Coca-Cola Announcement
PepsiCo's top executive indicated on July 17 that the company may switch Pepsi's sweetener from high-fructose corn syrup to sugar, one day after President Donald Trump said Coca-Cola would soon be making the change. 'Same journey that we have in foods, we're following in beverages. This is a consumer-centric strategy. We're following the consumer,' Ramon Laguarta, PepsiCo's CEO, told investors on a call after being asked about Trump's announcement. 'If the consumer is telling us that they prefer products that have sugar and they prefer products that have natural ingredients, we will give the consumer products that have sugar and have natural ingredients. So, this is a journey of following the consumer, trying to be a little bit maybe one step ahead of the consumer, but not too many steps. And it applies to both beverages and food.' As Jasper Fakkert reports for The Epoch Times, Trump said on Wednesday that he had been discussing with Coca-Cola the possibility of switching Coke's sweetener to cane sugar in the United States, 'and they have agreed to do so,' he said. A Coca-Cola spokesperson told The Epoch Times that the company appreciates Trump's enthusiasm for its brand and promised to soon share 'more details on new innovative offerings within our Coca‑Cola product range.' Some Coca-Cola products feature cane sugar, although most Coke sold in the United States is made with corn syrup. Both Coca-Cola and PepsiCo updated their soda formulas in the 1980s to use corn syrup instead of sugar. Laguarta's announcement came during a call in which executives said that PepsiCo will relaunch its Lay's and Tostitos brands later this year to highlight that they contain no artificial colors or flavors. 'We're trying to elevate the real food perception of Lay's. If you think about the simplest and most natural snack, it is a potato chip; it's a potato, it's oil, and it's a little bit of salt—the most simple, no artificial ingredients,' Laguarta said. The company also said it was expanding the use of avocado and olive oil across its brands, rather than the canola or soybean oil it uses. Some health influencers, including Health Secretary Robert F. Kennedy Jr., have promoted removing seed oils from food. PepsiCo officials had announced in April that they were quickening the company's transition to natural colors, in the wake of the Food and Drug Administration's banning of two artificial dyes. Lays and Tostitos will not contain artificial colors by the end of 2025, he said at the time. PepsiCo already offers Lays and Doritos without artificial colors or flavors under its Simply segment. 'The Simply line extension for existing chip brands is still in early innings,' F/m Investments senior portfolio manager Christian Greiner said. 'Consumers have not engaged so far, and given that, it will be seen how consumers react to a rebranding of Lays and Tostitos over the next couple of quarters.'
Yomiuri Shimbun
18-07-2025
- Business
- Yomiuri Shimbun
Pepsico Overcomes Lagging US Sales in a Strong Second Quarter
PepsiCo reported better-than-expected earnings and revenue in the second quarter and expressed confidence that new and revamped products can boost its lagging North American sales in the second half of this year. In a conference call with investors Thursday, PepsiCo Chairman and CEO Ramon Laguarta said the company plans to introduce protein-enhanced versions of snacks like Pop Corners in the next few months and will eventually make high-protein versions of some of its biggest sellers. Protein beverages are also going on sale later this year. 'Consumers are adopting protein solutions in their diets at a pace that was not the case in a few years back,' Laguarta said. 'We can provide democratized solutions at large scale. That's what we're trying to do.' Laguarta said a relaunch of Lay's potato chips and Tostitos tortilla chips without artificial colors or ingredients is also coming later this year. PepsiCo said in April that it was accelerating a planned phase-out of artificial colors and ingredients after U.S. health officials called on companies to make that shift. But Laguarta didn't say whether PepsiCo is planning a shift to real sugar in its U.S. sodas. Late Wednesday, President Donald Trump said in a social media post that Coca-Cola had agreed to use real cane sugar in its flagship product in the U.S. instead of high-fructose corn syrup. Coke didn't confirm the change but promised new offerings would be shared soon. 'If the consumer is telling us that they prefer products that have sugar and they prefer products that have natural ingredients, we will give the consumer products that have sugar and have natural ingredients,' Laguarta said. 'So this is a journey of following the consumer, trying to be maybe one step ahead of the consumer but not too many steps.' Sales of Frito-Lay and other snacks fell 1% in North America during the April-June period, PepsiCo said Thursday, while beverage sales slid 2% in the region. Years of double-digit price increases from PepsiCo and changing consumer preferences has weakened demand for the company's drinks and snacks, the company said in February. It said Thursday that it's trying to combat perceptions that its products are too expensive by expanding distribution of value brands like Chester's and Santitas. Sales rose in some other regions, including Latin America and Asia. PepsiCo said low- or no-sugar versions of its trademark Pepsi saw strong sales globally. Revenue rose less than 1% to $22.7 billion in the April-June period. That was higher than the $22.3 billion Wall Street forecast, according to analysts polled by FactSet. PepsiCo's net income fell 59% to $1.3 billion. Adjusted for one-time items, including impairment charges related to its Rockstar and Be & Cheery brands, PepsiCo earned $2.12 per share. That was also higher than the $2.03 analysts had forecast. PepsiCo shares rose nearly 6% in morning trading Thursday. PepsiCo lowered its full-year earnings expectations in April, citing increased costs from tariffs and a pullback in consumer spending. The company reaffirmed that guidance Thursday.
Time of India
17-07-2025
- Business
- Time of India
Coca-Cola-Coke, PepsiCo-Lay's to under major changes? What consumers need to know
PepsiCo is planning to highlight what will no longer be in its potato or tortilla chips - artificial colors or flavors - when it re-launches its Lay's and Tostitos brands later this year, executives said on Thursday. On Wednesday, President Donald Trump said Coca-Cola will start using cane sugar in its beverages in the U.S., a dietary preference of Health Secretary Robert F. Kennedy Jr.'s Make America Healthy Again (MAHA) movement. Both Pepsi and Coke use high-fructose corn syrup for their sodas, which is generally more cost-effective. PepsiCo-Lay's Rebranding? Explore courses from Top Institutes in Select a Course Category Degree Others Public Policy CXO Artificial Intelligence Healthcare Data Science Management Product Management Data Analytics others Cybersecurity Finance MCA Data Science Technology MBA PGDM Digital Marketing Design Thinking Operations Management healthcare Project Management Leadership Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details The overhaul for the company's top-selling snack brands comes as U.S. Health Secretary Robert F. Kennedy Jr. pushes Americans to eat "whole foods" and pressures manufacturers to ditch dyes. U.S. food makers have been announcing plans to remove dyes from their products and introduce new ones without the colors under pressure from Kennedy and the Make America Healthy Again (MAHA) social movement backing him. "We're trying to elevate the real food perception of Lay's. If you think about the simplest and most natural snack, it is a potato chip; it's a potato, it's oil, and it's a little bit of salt—the most simple, no artificial ingredients," said CEO Ramon Laguarta in a call with investors. The company also said it was expanding use of avocado and olive oil across its brands, rather than the canola or soybean oil it uses. The MAHA movement has questioned the health benefits of certain food oils. Live Events In April, PepsiCo said it planned to migrate its entire portfolio to natural colors, or give consumers the option to have a product without a synthetic dye. Its Cheetos snacks and Gatorade drinks rely on synthetic dyes for their bright hues. It already offers Lay's and Doritos without artificial colors or flavors under its Simply segment. Coca-Cola Coke A possible move by Coca-Cola, and other beverage and food industries, to use cane sugar instead of corn syrup as a sweetener would be difficult and expensive to implement, while mostly negative for farmers in the United States. U.S. President Donald Trump said on Wednesday that Coca-Cola had agreed to use cane sugar in its beverages in the country after his discussions with the maker of the top soda pop brand. The company already sells Coke made from cane sugar in other markets, including Mexico, and some U.S. grocery stores carry glass bottles with cane sugar labeled "Mexican" Coke. In response to Trump's comment, Coca-Cola said "more details on new innovative offerings within our Coca-Cola product range will be shared soon.' Around 400 million bushels of corn is used annually to make corn syrup for drinks and other food products, representing around 2.5 per cent of U.S. corn production, according to U.S. government data. The U.S. produces around 3.6 million metric tons of cane sugar per year, half of that in Trump's home state of Florida, compared with around 7.3 million tons of corn syrup. Trump's ongoing trade wars, however, would make it difficult to cover the deficit, sugar analyst Michael McDougall said. "It will most likely come from Brazil," he said, referring to the world's top cane sugar producer, "but Trump just hit Brazil with a 50 per cent import tariff." FAQs Q1. Who is US Health Secretary? A1. US Health Secretary is Robert F. Kennedy Jr. Q2. What do we know about corn syrup? A2. Around 400 million bushels of corn is used annually to make corn syrup for drinks and other food products, representing around 2.5 per cent of U.S. corn production, according to U.S. government data.
