Coronavirus has dented PepsiCo's global beverage second-quarter sales as consumers traveled less to ... [+] convenience stores and away-from-home premises like theaters or restaurants close or limit in-store dining. In one of the latest signs of the coronavirus’ economic impact, soda giant PepsiCo PEP reported a 15% decline in second-quarter profit on Monday, hurt by some additional $400 million in pandemic-related spending. To keep costs in check, PepsiCo said it would reduce non-essential advertising and marketing. Quaker Foods organic revenue surged 23%, thanks to consumers eating more breakfast and dinners at home and baking more. “SodaStream is a beautiful business for this situation we're living today,” Laguarta said, adding that the company is investing “substantial amounts.” “Consumers don't have to leave their houses.

Source: Forbes July 13, 2020 23:15 UTC