Nostra
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- Oct 7, 2019
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Bidenomics = Greedflation.On recent earnings calls, PepsiCo Chairman and CEO Ramon Laguarta said the company “might have to take additional pricing.” A General Mills executive said the company had gotten “smart about how we look at pricing,” according to the report.
PepsiCo’s net income went up by 16.9 percent to nearly $9 billion, and it spent more than $7.6 billion in stock buybacks and dividends in 2022, per the report, and General Mills saw its net income increase 16.5 percent to $2.7 billion.
Ulta Beauty executives “touted benefiting from an ‘elevated level of price increases,'” the report says, and Kimberly-Clark executives said, “pricing has continued to be a big driver behind our top line growth.”
Ulta’s fiscal 2022 net income went up 26 percent to $1.2 billion, and Kimberly-Clark’s net income increased 6.3 percent year-over-year to nearly $2 billion, according to the report.
‘Greedflation’ is the new inflation as corporate profits balloon
Some of the largest general consumer S&P 500 companies are raising prices to boost their own profits, even as the Fed raised interest rates to control inflation, according to a new watchdog rep…thehill.com