PepsiCo Inc
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Consumer Staples : Beverages | Large Cap Blend
Company profile

PepsiCo, Inc. is a global food and beverage company. The Company's portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA). The FLNA segment includes its branded food and snack businesses in the United States and Canada. The QFNA segment includes its cereal, rice, pasta and other branded food businesses in the United States and Canada. The NAB segment includes its beverage businesses in the United States and Canada. The Latin America segment includes its beverage, food and snack businesses in Latin America. The ESSA segment includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa. The AMENA segment includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

Closing Price
$141.39
Day's Change
-0.37 (-0.26%)
Bid
--
Ask
--
B/A Size
--
Day's High
142.60
Day's Low
140.53
Volume
(Average)
Volume:
4,309,077

10-day average volume:
4,332,663
4,309,077

UPDATE: Ann Taylor parent Ascena files for bankruptcy as pandemic crushes already troubled retailer

7:53 am ET July 23, 2020 (MarketWatch)
Print

Ascena Retail Group Inc. (ASNA), parent of the Ann Taylor and Loft retail chains, filed for voluntary Chapter 11 bankruptcy on Thursday, with a restructuring agreement supported by more than 68% of its secured term lenders, crushed by the effects of the coronavirus pandemic on its already troubled business. The Mahwah, New Jersey-based company said it expects to reduce debt by about $1 billion in its pre-arranged restructuring, providing increased financial flexibility to become profitable. "The meaningful progress we have made driving sustainable growth, improving our operating margins and strengthening our financial foundation has been severely disrupted by the COVID-19 pandemic," Interim Executive Chair Carrie Teffner said in a statement. "As a result, we took a strategic step forward today to protect the future of the business for all of our stakeholders." Ann Taylor, Loft, Lane Bryant and other chains will continue to operate through the restructuring with about 95% of stores open. But the company will reduce its footprint by closing a significant number of Justice stores and certain Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. "This includes the exit of all stores across brands in Canada, Puerto Rico and Mexico and the closure of all Catherines stores," said the statement. Ascena has $150 million in funding from existing lenders and expects that sum combined with cash flow generated by ongoing operations and cash on hand to be sufficient to meet its needs. Shares, which are trading below a dollar, tumbled 27% premarket, and have fallen 90% in the year to date, while the S&P 500 has gained 1.4%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 23, 2020 07:53 ET (11:53 GMT)

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