Newspaper article St Louis Post-Dispatch (MO)

Pepsi Profit Sinks as Sales Fizzle

Newspaper article St Louis Post-Dispatch (MO)

Pepsi Profit Sinks as Sales Fizzle

Article excerpt

A huge loss in international beverages and slumping sales at the Pizza Hut and Taco Bell chains sent PepsiCo Inc.'s earnings down an unexpectedly sharp 85 percent for the fourth quarter.

The earnings slide overshadowed improvement in the Frito-Lay snack food and North American soft drink businesses and higher sales at the KFC restaurant chain.

The company also said it would sell some of its smaller restaurant businesses, including the Chevy's and California Pizza Kitchen chains. PepsiCo earned $28 million, or 3 cents a share, in the three months ended Dec. 28, compared with $181 million, or 11 cents, a year earlier. Revenue rose 4 percent to $9.53 billion from $9.21 billion in 1995. In other reports: * Cisco Systems Inc. said second-quarter profit rose 68 percent, slightly exceeding Wall Street estimates. Cisco's profit from operations was $351.9 million, or 51 cents a share, vs. $209.7 million, or 31 cents, a year ago. * Colgate-Palmolive Co. …

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