PepsiCo Cuts US Snack Prices Up to 15% Amid Inflation

PepsiCo announced on Tuesday that it will cut prices on several popular snack brands in the United States, including Lay's, Doritos, Cheetos and Tostitos, by up to 15 percent, aiming to alleviate financial pressure on consumers amid ongoing inflation.

The price reductions, which apply to suggested retail prices, could appear on store shelves as early as this week if retailers adopt the changes. Retailers ultimately determine their own pricing, according to the company. The move comes as PepsiCo reported strong fourth-quarter financial results, with net revenue rising 5.6 percent to $29.3 billion for the October-to-December period, surpassing Wall Street expectations of $28.9 billion. Adjusted earnings per share reached $2.26, also beating analyst forecasts, while net income attributable to the company climbed to $2.54 billion, or $1.85 per share, from $1.52 billion, or $1.11 per share, a year earlier.

Executives attributed the decision to widespread consumer feedback highlighting affordability challenges. "We've spent the past year listening closely to consumers, and they've told us they're feeling the strain," said Rachel Ferdinando, CEO of PepsiCo Foods U.S., in a statement....