PepsiCo Warns Prices For Snacks & Drinks Could Rise To Cope With Shortage
Image via ID 176955649 © David Tonelson | Dreamstime.com
On Tuesday, PepsiCo announced that it would most likely raise its prices for snacks and drinks again as early as next year due to various supply chain challenges. This doesn’t just affect the drinks themselves; it also has seen a shortage in truck drivers.
Hugh Johnston, the Chief Financial Officer, reportedly told Reuters that the company had to “scramble” to deliver cans and bottles for Gatorade during the last few months thanks to restaurants and theaters re-opening after restrictions were lifted.
He states that he expects “some” increases in prices during the first quarter of next year, as the company attempts to “fully absorb and lock down the impact of commodity inflation.”
This comes even after PepsiCo has raised its prices for sodas and snacks over the last few weeks.
It’s said that the disruptions are expected to settle by the end of this year, though, and supply provided to supermarkets and retailers shouldn’t dwindle as the company should be able to find its feet again by then.
[via New York Post, cover image via ID 176955649 © David Tonelson | Dreamstime.com]
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