Economics

PepsiCo’s earnings call pointed to anxious consumers as to why sales had slowed, echoing comments by Chipotle and Procter & Gamble.

Consumers, worried about the economy, are pulling back on their spending, and that anxiety is translating into lower sales and profits for some of the country’s largest consumer-oriented companies.

On Thursday, PepsiCo cut its full-year guidance outlook, citing a reduction in consumer spending as well as the impact the company is feeling from increased global tariffs.

“Relative to where we were three months ago, we probably aren’t feeling as good about the consumer now,” Jamie Caulfield, the chief financial officer of PepsiCo, told Wall Street analysts and investors on an earnings call Thursday morning.