Large consumer goods companies such as PepsiCo, Kimberly-Clark, and Procter & Gamble are forecasting lower sales and profits due to increasing economic uncertainty and recent tariffs imposed by the Trump administration. Tariffs on Chinese imports and aluminum are raising costs significantly for these firms, leading to price increases and reduced consumer spending. For instance, Kimberly-Clark anticipates an additional $300 million in costs, while Chipotle is observing changes in customer behavior as they become more cautious with their finances. This situation reflects a broader anxiety amongst consumers affecting their purchasing habits.
Relative to where we were three months ago, we probably aren't feeling as good about the consumer now," PepsiCo's Chief Financial Officer Jamie Caulfield told investors on a call Thursday.
In February, we began to see that the elevated level of uncertainty felt by consumers was starting to impact their spending habits," Chipotle CEO Scott Boatwright told investors on Wednesday.
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