PepsiCo Lowers Guidance; Levi Strauss Sales Growth Disappoints | Stock Movers
On this episode of Stock Movers: - PepsiCo (PEP) shares are lower after the company decreased its profit outlook, with its recovery in North America taking longer than expected. PepsiCo faces higher costs in North America that are weighing on margins, and will be raising some prices in the coming months after cutting prices on some marquee brands earlier this year. - Microsoft (MSFT) shares are…
PepsiCo (PEP) shares have declined after the company reduced its profit forecast, as recovery in North America has been slower than anticipated. The company is grappling with higher costs in the region, which are putting pressure on margins. PepsiCo plans to raise prices on some of its popular brands in the near future, following a price cut earlier this year.
Meanwhile, Microsoft (MSFT) is expanding its presence in film and TV with the launch of a new division called XP, aimed at growing its franchises into other media formats. Lastly, Levi Strauss (LEVI) experienced a drop in its stock as the company reported slower-than-expected growth in its direct-to-consumer channels, attributed to a marketing misstep.
The retailer now anticipates a mid-single digit increase in direct-to-consumer growth for the current quarter, following a shift in its marketing strategy to focus on low-rise jeans.
Brief written by urgent.news from Bloomberg's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
