PepsiCo Inc. said Wednesday that it plans to cut costs in some of its operations by restructuring and would record a pretax charge of up to $85 million.
"We continue to see very good top line momentum, giving us confidence in our outlook for the fourth quarter," Steve Reinemund, PepsiCo's chairman and chief executive, said in the release. "At the same time, we are tightening our belts wherever we can to be in position to deal more effectively with continued cost pressures next year."
Reinemund said that he expected the actions to lead to low double-digit earnings per share growth in 2006.
"We continue to see very good top line momentum, giving us confidence in our outlook for the fourth quarter," Steve Reinemund, PepsiCo's chairman and chief executive, said in the release. "At the same time, we are tightening our belts wherever we can to be in position to deal more effectively with continued cost pressures next year."
Reinemund said that he expected the actions to lead to low double-digit earnings per share growth in 2006.
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