PepsiCo’s sales jump after it cuts prices

PURCHASE, N.Y. (AP) — PepsiCo’s decision to cut prices and some new snacks boosted demand in the first quarter.

Revenue jumped 8.5% to $19.44 billion in the January-March period compared to the same period a year ago, the Purchase, New York, company said Thursday. That handily beat Wall Street’s forecast of $18.95 billion, according to analysts polled by FactSet.

PepsiCo began cutting prices on value brands like Chester’s and Santitas last spring to win back customers exasperated by years of price hikes.