Consumer Cos up After Mixed Staples Earnings

Dow Jones
10/09

Consumer companies rose slightly as traders weighed a mixed batch of sales from staples sellers.

Soda and snack giant PepsiCo cut its earnings projection for the year and vowed to continue cutting costs. Rising ingredient prices have pinched Pepsi and other food processors.

Seven & i Holdings, the Japanese owner of 7 Eleven convenience stores, said second-quarter net profit fell as utility costs weighed on domestic operations.

British supermarket chain Tesco lifted the lower end of its profit projection for the year, citing resilient consumer confidence.

 

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