PepsiCo gets snacks boost in Covid-19 lockdown but beverages turn flat

Bottles of Pepsi

PepsiCo reported a stronger-than-expected spring as consumers looking for comfort stocked up on snack foods during the US lockdowns -- and its current-quarter forecast was even more bullish.

As Covid-19 raged across the US, Americans filled their shelves with salty, crunchy treats, driving double-digit sales growth for brands like Tostitos, Fritos and Cheetos.