U.S. grocery unit sales fell 1.8% in June, squeezing PepsiCo and food companies

Industry
โดย CNBC·Read original
Summary · why it matters

U.S. grocery unit sales fell 1.8% in June compared to the same month last year, according to a Bain & Company analysis of NielsenIQ data shared with CNBC, marking a sharp reversal from a 0.1% gain in June 2025. Prices continue rising at roughly 2% to 3% annually, but that is no longer enough to offset declining volumes, as food now costs about a third more than in 2019 and gasoline expenses have also climbed. A Bain survey found 80% of Americans are still trying to spend less, with 28% cutting back on groceries, and among those, 56% are trading down to cheaper brands, 49% are buying fewer items, and 44% are relying more on coupons and promotions. Retailers like Walmart and Kroger have responded with price cuts and value promotions, while analysts note the entire industry is trying to return to unit growth rather than just dollar growth.

Impact on stocks 3

Consumer Staples± Mixed · 3 stocks
PepsiCo Inc
PEP
▼ NegativeDemandrelevance

Unit sales decline and consumer trading down to cheaper brands directly hurt PepsiCo's volumes and pricing power.

Walmart Inc.
WMT
▲ PositiveDemandrelevance

Walmart benefits from consumers trading down to cheaper brands and seeking value promotions, likely gaining market share.

Kroger Company
KR
▼ NegativeDemandrelevance

Grocery unit sales fell 1.8% in June, with consumers trading down to cheaper brands and buying fewer items, pressuring Kroger's volumes.

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