The Daily Times Newspaper

Company Behind Pepsi Benefits from Reopening US Nightlife

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Food group PepsiCo has posted sharply higher sales in the second quarter. The company did exceptionally well with the Pepsi soft drink brand, which sold much more now that movie theatres, restaurants and sports stadiums in the United States have reopened.

 

Salts from, for example, Lay’s or Dorito’s also provided more income.

Revenue rose 21 percent year-on-year to $19.2 billion in the three months to mid-June. Soft drink sales in North America shot up by 24 percent after the relaxation of lockdown rules against corona. Revenues of the crisps and other snacks division also increased.

PepsiCo, also Quaker’s parent company, sold fewer cereals. When many people mainly spent at home due to corona measures, the American company took advantage of this.

PepsiCo also posted higher profits. It came in at nearly $2.4 billion, compared to $1.6 billion in the same period last year. The company aims to further increase profitability by automating more production processes and simplifying the organization.

For that reorganization, which should deliver $1 billion in cost savings, PepsiCo sets aside nearly $3.2 billion.

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