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PepsiCo To Consider Entering Alcoholic Beverages Business

PepsiCo Inc will consider introducing alcoholic beverages, the company said, days after rival Coca-Cola Co decided to launch an alcoholic sparkling water in the United States next year.

"We will make decisions in the coming quarters - whether this is an area where PepsiCo wants to play," chief executive officer, Ramon Laguarta said on an analyst call when asked about following Coca-Cola.

Molson Coors Beverage Co said on Tuesday (29 September) it partnered with Coca-Cola Co to make and sell an alcoholic version of the beverage company's Topo Chico sparkling water.

Quarterly Sales

On Thursday (1 October), PepsiCo Inc forecast full-year profit above expectations after a rebound in soda sales and increased demand for snacks during the COVID-19 crisis helped drive quarterly sales higher.

People spending more time working and studying from home has led to a rise in demand for salty snacks, boosting demand for PepsiCo's Tostitos, Cheetos and Doritos from households across North America.

Sales of snacks under the company's Frito-Lay North America unit, rose 7% in the third quarter, while higher demand for breakfast foods led to a 6% rise at its Quaker Foods business.

"At home consumption trends have remained strong despite the measured reopening of economies and activities in certain areas," Chief Executive Officer Ramon Laguarta said.

Higher demand for Starbucks branded iced coffee, as well as low calorie versions of Gatorade and Mountain Dew helped boost revenue of PepsiCo's North America beverage business by 6%.

That helped offset a slump in sales at restaurants, which has been hurting the unit's revenue since the start of the pandemic.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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