The French supermarket chain Carrefour has said it will stop selling PepsiCo products in stores in four European countries because the global food company has put its prices up by too much.
Shelves at Carrefours in France, Italy, Spain and Belgium will from Thursday carry signs saying the store will no longer stock PepsiCo products such as fizzy drinks, Lay’s and Doritos crisps and Quaker cereals “due to unacceptable price increases”.
The US company said in October it planned “modest” price increases this year as demand held up despite rises, leading it to raise its 2023 profit forecast for a third consecutive time.
Over the past year, grocery retailers in several countries including Germany and Belgium announced they had stopped orders from consumer goods firms because of price rises, a tactic in negotiations that have become more fraught due to inflation.
In its efforts to lower inflation, the French government has asked retailers and suppliers to wrap up annual price negotiations in January, two months sooner than usual.
France is unusual in Europe in that it strongly regulates the retail sector, forcing supermarkets to negotiate prices only once a year with food and drink producers, in an attempt to protect its agricultural industry.
The original article contains 433 words, the summary contains 203 words. Saved 53%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The French supermarket chain Carrefour has said it will stop selling PepsiCo products in stores in four European countries because the global food company has put its prices up by too much.
Shelves at Carrefours in France, Italy, Spain and Belgium will from Thursday carry signs saying the store will no longer stock PepsiCo products such as fizzy drinks, Lay’s and Doritos crisps and Quaker cereals “due to unacceptable price increases”.
The US company said in October it planned “modest” price increases this year as demand held up despite rises, leading it to raise its 2023 profit forecast for a third consecutive time.
Over the past year, grocery retailers in several countries including Germany and Belgium announced they had stopped orders from consumer goods firms because of price rises, a tactic in negotiations that have become more fraught due to inflation.
In its efforts to lower inflation, the French government has asked retailers and suppliers to wrap up annual price negotiations in January, two months sooner than usual.
France is unusual in Europe in that it strongly regulates the retail sector, forcing supermarkets to negotiate prices only once a year with food and drink producers, in an attempt to protect its agricultural industry.
The original article contains 433 words, the summary contains 203 words. Saved 53%. I’m a bot and I’m open source!