Pepsico Beverage Sales Signal Gradual Recovery Shares Rise


– PepsiCo Inc’s (PEP.O) better-than-expected quarterly results on Tuesday pointed to signs of a gradual recovery in its struggling soda business as the company doubled down on efforts to promote colas, setting shares up for their best day in seven years.

The company’s North America beverages sales fell 0.9 percent – its smallest drop in four quarters – as the company went “toe-to-toe” with rival Coca-Cola in marketing and pricing and launched a campaign to revive soda sales.

Chief Executive Officer Indra Nooyi has been trying to popularize the company’s trademark colas amid intense competition from Coca-Cola Co (KO.N) and as consumers opt for healthier drinks.

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