News Summary

• The company aims to have its private label represent 40 percent of food sales in 2026 — up from 33 percent in 2022.PepsiCo’s business in Europe accounts for about 14 percent of its global revenue, amounting at about $9 billion, the Wall Street Journal reported..
• Price increases peaked in March 2023, surging almost 16 percent, according to one estimate.Retailers in the United States have also battled with suppliers to lower food prices..
• France-based Carrefour, one of the world’s largest grocery chains, told customers Thursday it is pulling Lay’s, Doritos, Lipton teas and other PepsiCo products in protest of increased prices.Stores in France, Italy, Belgium and Spain will be affected, multiple news outlets reported..
• Given Carrefour’s size and scale in the region, lost presence on shelves “will definitely hurt the suppliers’ business in Europe, if not globally,” Sargent said..
• In France, food prices rose more than 7 percent year-over-year in December..