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Frito Lay fucked up by charging $7 for a bag of chips. It took a chunk out of their profits when people stopped buying them. They have reversed course for now.

latimes.com/…/how-7-bags-of-doritos-cost-pepsico-…

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jpreston2005@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

During the pandemic… PepsiCo raised prices … By the third quarter of 2022, net pricing was up 20% from a year earlier.

senior managers made clear they didn’t want to go backward on prices,

the company’s stock down more than 20% from a peak in 2023

company tried anything else that might lure customers: promotions, shrinkflation. None of it worked.

PepsiCo … planned to lower prices … Up to 15% off some snacks, Laguarta described the cuts as “very surgical.” It also underwent a series of cost cutting measures, including layoffs.

PepsiCo CEO Ramon Laguarta receives an annual base salary of approximately $1.69 million, with a total annual compensation package—including stock awards, options, and performance bonuses—totaling roughly $23.9 million to $28.8 million

Fucking moron.

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