Atlanta — PepsiCo reported a stronger-than-expected spring as homebound consumers looking for comfort stocked up on snack foods — and its current-quarter forecast was even more bullish.
As Covid-19 raged across the US, Americans seeking familiar flavours filled their shelves with salty, crunchy treats, driving double-digit sales growth for brands such as Tostitos, Fritos and Cheetos. Even newer snacks such as fruit-chips line Bare and Off The Eaten Path, a maker of black bean and chickpea crisps, saw double-digit growth. Beverage sales were one weakness, as both in-restaurant and grab-and-go petrol station sales lagged during the lockdowns...
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