Google search engine

Carrefour flexes retail muscle, ousts Pepsico over unacceptable price hikes across Europe: WSJ – World News Network

Date:

New Delhi [India], January 5 (ANI): Carrefour, one of the world’s largest supermarket chains with a significant presence in more than 30 countries, has announced its decision to stop selling several PepsiCo products in France, Italy, Spain, and Belgium.
According to a report by Mauro Orru and Jennifer Maloney, published in The Wall Street Journal, the move comes as a protest against what Carrefour deems as unacceptable price increases by PepsiCo, marking a rare public standoff between a major grocer and a food giant amid a prolonged period of rising prices globally.
The affected products include popular items like Lay’s, Doritos, Cheetos chips, Benenuts snacks, Alvalle gazpacho, Lipton teas, Pepsi, 7 Up soft drinks, and Quaker foods.
Carrefour plans to add notes to store shelves, explaining the changes to its customers. The decision to drop these products follows months of discussions between Carrefour and PepsiCo.
A spokesman for Carrefour emphasized that the supermarket chain had engaged in discussions with PepsiCo for an extended period, and their intention is to ensure that consumers have access to a fair pricing structure.
The notes to customers will provide clarity on the decision and the affected product range.
In response to Carrefour’s move, a spokeswoman for PepsiCo stated, “We’ve been in discussion with Carrefour for many months and we will continue to engage in good faith in order to try to ensure that our products are available.”
PepsiCo’s finance chief, Hugh Johnston, had earlier indicated that the company expected a slowdown in product price increases in 2024, aligning more closely with the overall rate of inflation.
The company had witnessed two years of significant price hikes on its soft drinks, snacks, and packaged foods. PepsiCo, set to report its latest quarterly results next month, has projected earnings growth of 13 per cent and revenue growth of 10 per cent for 2023, excluding currency impacts.
The decision by Carrefour is not only a reflection of their concerns about rising prices but also an assertion of their commitment to ensuring fair pricing for consumers.
In a broader context, other supermarket operators in the U.S. have also expressed apprehensions about escalating prices in certain product categories despite a general slowdown in the overall rate of inflation.
Europe, which represents about 14 per cent of PepsiCo’s global revenue, has seen heightened food-price inflation, particularly in countries like France.
Carrefour’s stance comes after the retailer began attaching labels to products it claims are subject to “shrinkflation” — a phenomenon where the quantity of a product decreases in its packaging while the retail price remains unchanged.
Carrefour’s decision to drop PepsiCo products underscores the complex dynamics between retailers and food manufacturers as they navigate the challenges posed by economic uncertainties and consumer demands for fair pricing. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

“Multiple casualties reported,” says Australian PM after stabbing attack in Sydney shopping mall – World News Network

Australian Prime Minister Anthony Albanese expressed his heartfelt condolences to those affected by the unfolding tragedy and said, "Our hearts go out to those injured" at Bondi Junction on Saturday.

Prof Mona Maron appointed first Arab rector of an Israeli university – World News Network

A world-renowned researcher in the field of neuroscience and post-trauma, Maron will replace Prof. Gur Alroey, who in October will become the university president.

UN Chief appoints Muhannad Hadi as new Deputy Special Coordinator for Middle East Peace – World News Network

United Nations Secretary-General Antonio Guterres announced today the appointment of Muhannad Hadi of Jordan as his new Deputy Special Coordinator and Resident Coordinator, Office of the United Nations Special Coordinator for the Middle East Peace Process (UNSCO).

Pakistan: Gunmen abduct, kill 9 bus passengers after checking ID cards – World News Network

Some unidentified gunmen shot dead at least nine people hailing from Punjab after abducting them from a passenger bus in Noshki, officials said. Another attack on a separate vehicle killed one person and injured four

Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

Send this to a friend