Aaron Back is the Deputy Editor of The Wall Street Journal's Heard on the Street column. With a background in financial journalism, Aaron's articles focus on analyzing and providing insights into the world of business and finance. He has also contributed to other publications such as Yahoo Finance, LiveMint, and Financial News.
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Aaron Back's coverage strongly leans towards finance, technology, and sales & marketing. He often cites data in his articles and provides investment analysis. If you are reaching out to him for a pitch, it would be beneficial to offer well-researched insights backed by data about stock market trends, innovative technologies impacting businesses or consumer behavior, or developments in the beverage and food industries.
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Companies selling everyday goods from food to paper towels say lower-income consumers are struggling, but others are spending freely.
The latest warnings came from two packaged-food giants on Thursday, PepsiCo and Conagra Brands. Pepsi said sales volumes fell 4% from a year earlier in its Frito-Lay North America business and 3% for North America beverages in its fiscal second quarter ended June 15. Thanks to higher prices, revenue was down just 0.5% for Frito-Lay North America and up 1% for North America beverages.
There is no longer any good reason to delay cutting rates. Why wait until September?
By: Aaron Back
Procter & Gamble is the latest consumer-staples stock to take a tumble following earnings. The maker of Bounty paper towels and Gillette razors on Tuesday said organic sales—which strip out currency and merger impacts—rose 2% from a year earlier in the most recent quarter. Investors pushed P&G stock down 6% in early trading.
Waiting until September to start cutting rates might have narrowed the Federal Reserve's room for maneuver.
Instead of blindly selling, investors should eye sectors like real estate that will benefit from lower interest rates.
Would U.S. food companies be better off in private hands? Investors in packaged food seem unable to make up their minds about what they want from companies. As it stands now, Kellanova can make an argument that the spinoff of North American cereal business W.K. Kellogg has been a success, but only just.
The 1995 cuts helped lay the groundwork for a soft landing and the late '90s boom years.
Markets seem pleased with a strong jobs reading, but significant risks remain. Investors were breathing two big sighs of relief on Friday.
PepsiCo’s Frito-Lay business, and the broader snacking industry, might have a bigger problem on their hands than they realize. Within packaged food, snacks were the stand-out performer for a few years following the onset of the pandemic. Industry executives and analysts spoke of a fundamental shift in the way consumers are eating, with more consumption occasions spread out over the day.
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