date:Oct 25, 2012
Dr Pepper Snapple has reduced its full-year sales growth target after higher prices hit demand in the third-quarter.
The maker of Dr Pepper, 7UP and Sunkist said that net sales in the quarter were down 1% year-on-year to 1.53 billion lower than the $1.56 billion predicted by a Thomson Reuters poll of analysts. Sales volume was down 3% after higher prices and fewer promotions dented demand.
However, net income reached $179 million, up from $154 million during the same period last year.
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