Alina Seljuk
👤 SpeakerAppearances Over Time
Podcast Appearances
PepsiCo says the price cuts are coming for Lay's Doritos, Cheetos, and Tostitos, rolling out as soon as this week ahead of the Super Bowl.
Executives say they've received a lot of messages from shoppers complaining about higher prices.
Snacks and chips have seen several increases since the pandemic, as big food makers counted on brand loyalty from shoppers.
But people have been pulling back, switching to store brands, to healthier snacks, or skipping this purchase altogether.
PepsiCo food sales are still growing, but the volume of items sold in North America in the latest quarter declined by 1%.
To boost sales, the company last year struck a deal with an activist investor to lower prices and reduce its lineup of products by a fifth.
Between July and September, the report shows the U.S.
economy growing at a robust pace, accelerating from the growth seen in the previous quarter.
Earlier in the year, the economy had actually shrunk as companies rushed to ship foreign goods ahead of President Trump's global tariffs.
Consumers remain the key engine driving the growth with higher spending, especially on health care.
The report calls out spending on hospital and nursing home services and on prescription drugs.
People also spent more on, quote, information processing equipment.
That could be computer hardware, presumably as part of the AI boom.
At the same time, business and residential investment declined in the third quarter.
Spending by state and local governments increased.
Alina Seljuk, NPR News, Washington.
iRobot was founded in 1990 by researchers from MIT, and its devices have been used by the military and scientists tracking oil spills.
But its claim to fame is the Roomba, the smart floor vacuum.