The food and beverage giant, like many Big Food rivals, faced a challenging 2015. While the soda maker’s results were resilient in North America, CEO Indra Nooyi has struck a fairly bearish tone when lamenting the state of the global economy. In her view, lower demand for commodities has put pressure on previously booming economies like Russia and Brazil, resulting in slowing sales. Because of the global economic malaise, the U.S. dollar has strengthened, also eating into PepsiCo’s sales. Global net revenue slipped to $63.1 billion in 2015 from $66.7 billion the prior year. Meanwhile, the soda industry’s sales keep sliding in the U.S. as customers cut back on sugary drinks, leading PepsiCo to tinker with how it makes key brands like Diet Pepsi and Sierra Mist. The hope is that the formula changes will help perk up sales, though it remains to be seen if such efforts will work.
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