Despite a slight decline in domestic soda volume, PepsiCo's 17% fourth-quarter profit gain was widely hailed as a sign that chief executive Indra Nooyi's turnaround plan is working. The brand increased its marketing budget between $500 million and $600 million, as PepsiCo's Americas beverage segment rose 2.5%. Nooyi hinted that a formulation change might be in the offing. "We have some promising projects that are going through the [Food and Drug Administration] review process that, once commercialized, could potentially alter the trajectory of our cola business in a meaningful way," she said.

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