Good morning and happy Sunday! Kick back, grab a drink, and enjoy stories on Pepsi’s problems and the plight of British pubs. |
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The valuation gulf between Coke and Pepsi hasn’t been this wide in decades, and Pepsi’s underperformance has caught the attention of some very sharp-elbowed investors, as activist hedge fund Elliot Investment Management revealed a $4 billion position in the snack-and-soda behemoth this week. In a letter to Pepsi’s board of directors, Elliot said, “the company has an opportunity — and an obligation — to improve financial performance and regain its position as an industry leader.” But just how much has Pepsi slumped compared to its rivals? In the world of soda specifically, quite a lot. |
Last year, Dr Pepper and Sprite overtook Pepsi in the American soft drinks rankings with an 8.7% and 8.03% chunk of the industry by case sales, respectively. Pepsi had 7.97%, marking its fourth consecutive year of slumping market share. Can Pepsi get back to second place? |
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Other great stories from the week |
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The UK has a serious drinking problem… The number of places where Brits can do it is slumping further with each passing year, per data from the British Beer & Pub Association (BBPA). This year, the country is expected to lose some 378 watering holes, with independents and huge chains alike struggling in 2025 as minimum wage rises, increases to National Insurance contributions, changing preferences, energy costs, business rates, and low-spending drinkers all combine to cut the pub count further. Like a pint at last orders, the trend over the last two decades has only been going in one direction: down. |
If the BBPA’s estimate for 2025 holds, the UK will have shed over 26.6% of the public houses it had in the year 2000, when you were still allowed to smoke in pubs and the leader of the opposition was infamously reminiscing about the days when he’d drink 14 pints of beer a day. Why are Britain’s famous drinking spots, from cozy village boozers to high-end gastropubs, struggling so much? Well, the rising price of beer certainly hasn’t helped — but neither have changing preferences and rising taxes. Read online: Britain is on track to shed more than one pub a day this year |
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