PepsiCo plans to raise prices on some snacks and drinks and slash corporate costs after a disappointing performance in North America during the third quarter.
The price hikes, which will hit Doritos, Ruffles, SunChips and some sodas, will be in the single-digit percentage range, and prices will still be lower than they were at the start of this year. PepsiCo said Thursday that it must raise prices to recoup rising costs for fuel, aluminum and agricultural commodities.
