Where this was said
PepsiCo Sales Squeezed by Iran War Gas Prices
At 2:45 · chapter starts 2:18
The war in Iran isn't just a geopolitical story — it's showing up in corporate earnings. Reporter Pierre Salinas breaks down PepsiCo's March-June quarter, which was shaped by gas price volatility the company calls 'meaningful' [1] — Pierre Salinas "The US-Iran war's gas price swings are showing up in PepsiCo's quarterly results. North American food sales stagnated and drink sales fell …" 02:06 . The hardest-hit channel is an almost poetic one: gas stations and convenience stores, where Americans used to reflexively grab a Gatorade or a bag of Lay's while filling up. Now they're not. Globally, PepsiCo is still growing, but North American food sales have flatlined and drink sales have actually fallen — the worst possible headline for a company that spent the previous quarter cutting prices to recapture budget-stretched shoppers. PepsiCo is now betting that gas prices will ease in the second half of the year, a forecast entirely dependent on the trajectory of a war.
PepsiCo reported that North American food sales were stagnant and drink sales actually declined as rising gas prices from the US-Iran war tightened consumer budgets more than expected.
PepsiCo executives said big swings in gas prices caused by the US-Iran war had a 'meaningful' impact on sales, especially at gas stations and convenience stores where impulse purchases dropped.
Victor Marks, a Marine Corps veteran and political outsider with a large social media following, narrowly won the Colorado Republican gubernatorial primary by just 2,515 votes. He calls himself a 'high risk humanitarian' and has made controversial claims about saving hostages and a childhood homicide incident — all disputed by opponents.
