Keurig Dr Pepper KDP -5.65% Decrease
Keurig Dr Pepper reported a decline, with a down pointing triangle indicating higher profits and sales in the latest quarter, despite the coffee business recovering slower than anticipated.
According to Chief Executive Tim Cofer, inflation-conscious consumers are opting for more affordable coffee choices. This shift is evident in the preference for ground beans and instant coffee granules over K-cups, which are more expensive.
“Over multiple years, we’ve seen inflation drive up coffee prices, and now we’re witnessing heightened value sensitivity in at-home coffee, especially among low- and middle-income consumers,” Cofer stated during a call with analysts on Tuesday. “We believe this trend largely reflects the current macro environment, impacting our quarterly results.”
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