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PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have weakened consumer demand for the company's snacks and drinks. Volume for Frito-Lay North America fell 2% in the final quarter of the year, and beverages North America in North America slid 6%. Volume fell 8% in the Quaker Foods North America unit, as the division dealt with a recall. Pepsi has wrestled with higher prices and how to pass those costs along, raising prices by double-digit percentages for several quarters. Its profits are up, though higher prices have dragged down sales as people trade down to cheaper brands.

Persons: Quaker Oats Organizations: PepsiCo, New, Zacks Investment Research, Wall, Frito, Lay, Pepsi, Quaker Foods, Quaker Foods North America, Global, Carrefour, Quaker, Lipton, PepsiCo Inc Locations: New York, America, North America, Europe, Asia Pacific, Australia, New Zealand, China, Quaker Foods North, France, Belgium, Spain, Italy, Purchase , New York

☆ Carrefour confident over year-end even as Q3 sales growth slows
▼ + stars: | 2023-10-25 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

[1/2] A customer pushes a shopping trolley as she shops in a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. Third-quarter sales reached 23.63 billion euros ($25 billion), marking like-for-like growth of 9% which was less than 10.3% growth in the second quarter, Carrefour said, adding it confirmed a cost savings target of 1 billion euros for the year. The sales growth moderation reflected a slowdown in food inflation in Carrefour's core markets of France and Brazil. In France, hypermarket sales rose 4.2% in the third quarter of 2023 compared with a 6.6% rise in the second quarter of 2023. The company said it had achieved 664 million euros out of its 800 million euros buyback programme for 2023.

Persons: Sarah Meyssonnier, Dominique Vidalon, Sudip Kar, Gupta, Mike Harrison Organizations: REUTERS, Rights, Carrefour, Thomson Locations: Carrefour, Montesson, Paris, France, Brazil

☆ Carrefour uses 'shrinkflation' stickers to pressure PepsiCo, Nestlé and Unilever
▼ + stars: | 2023-09-15 | by ( ) edition.cnn.com time to read: +3 min

French supermarket chain Carrefour has slapped price warnings on products ranging from Lindt chocolates to Lipton Ice Tea to pressure suppliers such as Nestlé, PepsiCo and Unilever to cut their prices. Carrefour is putting stickers on products that have shrunk in size but cost more even though raw materials prices have eased. After a new round of meetings last month, Le Maire said Unilever (UL), Nestlé and PepsiCo (PEP) were among companies not toeing the line on prices. Consumer groups say “shrinkflation” is a widespread practice, which supermarkets like Carrefour are also guilty of in their private label products. The shrinkflation warnings are in all French Carrefour stores, and will last until the targeted suppliers agree to price cuts, Bompais said.

Persons: Stefen Bompais, Alexandre Bompard, Bruno Le Maire, Le Maire, Nestlé, “, Bompais, — Organizations: Carrefour, Lipton, PepsiCo, Unilever, UL, Nestlé, Reuters Locations: France, Swiss, Carrefour

☆ Carrefour sticks price warnings on food to shame suppliers
▼ + stars: | 2023-09-14 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

PARIS, Sept 14 (Reuters) - French supermarket chain Carrefour (CARR.PA) has slapped price warnings on products from Lindt chocolates to Lipton Ice Tea to pressure top consumer goods suppliers Nestle, PepsiCo and Unilever to reduce inflation ahead of much-anticipated contract talks. After a new round of meetings last month, Le Maire said Unilever, Nestle and PepsiCo were among companies not toeing the line on prices. But Carrefour's move to name and shame suppliers marks an escalation in the war of words between retailers and big multinationals. The shrinkflation warnings are in all French Carrefour stores, and will last until the targeted suppliers agree to price cuts, Bompais said. Le Maire said last month consumer goods companies and retailers had agreed to bring forward annual price negotiations - which would normally have taken place next year - to September.

Persons: Bompais, Alexandre Bompard, Bruno Le Maire, Le Maire, Dominique Vidalon, Richa Naidu, Helen Reid, Silvia Aloisi, Richard Chang Organizations: Carrefour, Lipton, Nestle, PepsiCo, Unilever, Finance, Thomson Locations: France, Carrefour, Paris, London

☆ JPMorgan: The world's food supplies face a bleak future. These are the 3 biggest threats, and the companies best-positioned to tackle food insecurity.
▼ + stars: | 2023-08-25 | by ( Mark Reeth | ) www.businessinsider.com time to read: +10 min

Investors need to know exactly where the threats to the world's food supply are coming from, what themes are beginning to emerge in this new reality, and how they should be investing. New threats to the world's food supplyIn her report, Chang highlighted the ongoing problems affecting the world's food supply: war, weather, and the weaponization of food. One of the most devastating recently implemented restrictions on food supply is India's decision to ban the exportation of non-Basmati white rice. The combination of war, weather, and the weaponization of food has taken a toll on the world's food availability. And within food innovation, JPMorgan analysts like Philippine food and beverage maker Monde Nissin (MONDE PM) and Thailand-based seafood producer Thai Union (TU TB).

Persons: UNICEF — that's, Global Research Joyce Chang, Chang, El, Hilary, CJ Cheiljedang, Mengniu Dairy, Kubota, Jeronimo Martins SGPS Organizations: JPMorgan, Hurricanes, UNICEF —, Global Research, Grain Initiative, Food Policy Research, Food, Agriculture Commodities, ASEAN, Mahindra, LG, Thai Union, TU, Jeronimo Martins SGPS SA, Tesco PLC, J Sainsbury PLC, Koninklijke Ahold Delhaize, Carrefour SA, Yara International ASA, OCI, OCI NA, Bayer AG, PepsiCo Locations: Ukraine, California, Canada, East Coast, Russia, Africa, Asia, India, El, South Korean, HK, South Korea, Philippine, Thailand, Europe

☆ Carrefour Brasil swings to quarterly loss as BIG purchase weighs
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, May 2(Reuters) - Carrefour Brasil (CRFB3.SA) reported a first quarter net loss of 113 million reais ($22.39 million), hit by high investment costs at its acquired food retailer Grupo BIG, the company said in a filing with Brazil's main stock exchange on Tuesday. The company posted a net profit of 370 million reais in the same January-to-March period last year. Carrefour's Brazilian unit said operating expenses soared 52% from a year earlier to total 3.8 billion reais, fueled by store conversion and the integration of BIG. The Carrefour subsidiary bought BIG in mid-2022 and announced last month a discount of up to 1 billion reais in the initial amount paid of 7.5 billion reais. Carrefour Brasil said it has opened three new wholesale format stores and 23 converted stores in the first quarter.

LONDON, Nov 9 (Reuters) - Some European retailers this week forecast or reported better full-year sales after working to keep prices low to attract cash-strapped shoppers although others, including Marks & Spencer (MKS.L) and Adidas (ADSGn.DE) warned on profit. Many consumers have turned to cheaper private-label products, boosting sales for retailers like Dutch grocer Ahold Delhaize and Primark owner Associated British Foods (ABF.L), as they face a prolonged cost-of-living crisis. On Wednesday, Ahold raised its annual outlook for the third time this year, expecting low-double-digit earnings per share growth versus a prior mid-single-digit guidance. Carrefour said it would step up its expansion in e-commerce, open more discount stores and cut costs as it detailed its new turnaround strategy, . LUXURY GAPHaving less disposable income has meant many shoppers are holding back on buying mid-market clothes and other discretionary items.

☆ Factbox: Carrefour's plan to accelerate its turnaround
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

FINANCIAL TARGETSCarrefour is targeting annual capital spending of 2.0 billion euros ($2 billion), up from 1.7 billion euros previously, and net free cash flow above 1.7 billion euros by 2026. It is also aiming for 4 billion euros in cost savings by that date. The group confirmed e-commerce initiatives announced in November 2021 and the objective of 10 billion euros in e-commerce Gross Merchandise Value by 2026. MAXIMIZING VALUE OF REAL ESTATEIn France, Carrefour said it had identified around 100 sites that could be transformed into housing, offices or stores. Carrefour plans to open that company's capital to minority partners to support its future development.

☆ Retailer Carrefour plans more investment and savings
▼ + stars: | 2022-11-08 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Nov 8 (Reuters) - Carrefour (CARR.PA) will step up its expansion into e-commerce, slash costs and focus on cash generation as part of boss Alexandre Bompard's new strategy to accelerate the turnaround at Europe's largest food retailer amid soaring inflation. The French group, ahead of an investor presentation later on Tuesday, said it was aiming for a net free cash flow of over 1.7 billion euros ($1.7 billion) and 4 billion euros in cost savings in 2026. As a result, Carrefour said it was raising its annual investment target to 2.0 billion euros from 1.7 billion euros previously. Chairman and CEO Alexandre Bompard, who took the helm in July 2017, was reappointed in May 2021 for another three years. ($1 = 0.9996 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Carrefour plans investments and savings to tackle inflation
▼ + stars: | 2022-11-08 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

The French group, which also announced a media joint venture with ad giant Publicis , said on Tuesday it was aiming for 4 billion euros ($4 billion) in cost savings and for net free cash flow of over 1.7 billion euros ($1.7 billion) in 2026. As a result, Carrefour said it was raising its annual investment target to 2.0 billion euros from 1.7 billion euros previously. "Carrefour 2026 is a plan to be on the offensive in markets marked by inflation and climate change ... The partnership with Publicis in retail media will take the form of a joint venture in which Carrefour will hold a 51% stake, the group said. ($1 = 0.9996 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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