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The original was posted on /r/worldnews by /u/Haltopen on 2024-01-06 00:43:23.
Pepsi and Lay’s pulled from supermarkets in Europe over price increases
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://www.cnn.com/2024/01/04/business/carrefour-france-pepsi-rising-prices/index.html
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
Stores are displaying a note alongside Pepsi, Lay’s chips, Quaker cereals and Lipton teas, among other products, that reads: “We are no longer selling this brand due to unacceptable price increases.
The move marks an escalation in Carrefour’s attempts to pressure some of the world’s biggest consumer goods companies to cut their prices after hiking them over the past two years in response to soaring energy, commodity, and labor costs.
Carrefour CEO Alexandre Bompard has repeatedly said consumer goods companies are not cooperating in efforts to cut the price of thousands of staples, despite the fall in the cost of ingredients.
Nestlé, Unilever (UL), Coca-Cola (KO) and Procter & Gamble (PG) have all hiked prices on their products over the past two years, passing on increases in their own costs to shoppers.
That has led to some tense negotiations between retailers and consumer goods giants — and in some cases disputes that have seen branded products pulled from shelves for short periods.
During negotiations in 2022, Kraft Heinz (KHC) stopped supplying some products, including ketchup and baked beans, to the biggest UK grocery retailer Tesco.
The original article contains 528 words, the summary contains 183 words. Saved 65%. I’m a bot and I’m open source!