A：PepsiCo is planning to manage the impact of increased pricing by making targeted investments in areas where the biggest friction for higher frequency is price. These investments are expected to have a good return on investment and should be considered alongside net revenue growth and large space gains, which are anticipated to be double-digit for Frito-Lay. The company believes that these targeted investments will result in volume growth and net revenue growth early in the year.

A：Productivity is expected to play a crucial role in funding new initiatives. The company has seen productivity gains in the fourth quarter, which are expected to carry over and help fund the investments. The investments in affordability and innovation are being managed within the business's guidance and are integral parts of the productivity progress.

A：PepsiCo anticipates volume growth and net revenue growth early in the year, with a focus on targeted pricing investments in specific brands, channels, and formats. The company also expects significant space gains, with an average space gain for Frito-Lay in the new reset of both the main aisle and the perimeter being double-digit. This growth is expected to contribute positively to the company's results in the near term.

A：PepsiCo expects sales growth to strengthen in the second half of the year as more initiatives are put in place and gain traction, and as certain prior-year acquisitions are included in organic growth. From an EPS perspective, the company expects the year to be pretty balanced between the first and second halves, with updates as the year progresses. The company aims to provide a balanced performance throughout the year.

A：The strategies for restaging Gatorade and Quaker involve global relaunches with new positioning and a focus on growth. The expectations for Tostitos are that they will be a big brand contributing to the relaunches in the second half of the year.

A：The affordability and price investment strategy is being implemented very surgically and is based on tested, scaled execution, which means that the investments are targeted and efficient. The expected return includes a good impact on consumers, business, and brand, as well as volume increases that have significant leverage for the company's flow-through of additional volume.

A：The company has taken actions in response to retail trends, although the specific details of these actions and the level of payback are not provided in the transcript. The focus is on the fact that these actions have led to very good ROI and a volume return that's beneficial for the consumer, business, and brand.

A：The decline in advertising expenses is attributed to increased efficiency in both working and non-working advertising. The outlook for next year suggests that advertising expenses will go up, which is beneficial from a cost of sales standpoint. The company plans to invest in sales growth for the year.

A：The company expects its international business to continue performing at mid-single-digit growth levels, similar to the performance of the past few quarters. The growth is supported by good performance in larger markets such as Mexico, China, and South Africa. In North America, the expectation is for acceleration in the beverage business and continued improvement in the food business, leading to the majority of the growth in the second half of the year.

A：The anticipated impact of acquisitions on organic sales growth is a mechanical acceleration throughout the year as these acquisitions turn into organic growth. These acquisitions are in high-growth segments of the category, which is why they were made, and they are integrating well into the company's distribution systems. The brands are expected to continue growing and will contribute to an acceleration of the portfolio in the second half.

A：The innovation strategies involve expanding core brands through relocations and new product offerings. The recent successes include the relaunch of Tostitos and plans for global relaunches of Gatorade and Quaker, as well as the addition of 'naked' products without artificial ingredients, which have been popular with younger households. These innovations are aimed at attracting consumers to the categories and increasing their frequency of purchase.

A：Gatorade is focusing on a low sugar, no artificials variant as a key innovation for next year.

A：The need for portion control is driven by consumers seeking reasons to engage with large brands, looking for fiber innovations, and wanting to maintain health while enjoying products like Gatorade.

A：PepsiCo is reacting to the potential for broader adoption of GLP-1 medicines by working on multiple levers and being optimistic about its role in the new consumer reality, seeing more opportunities than threats.

A：To keep Gatorade relevant, PepsiCo is focusing on portion control, smaller portion sizes, and enhancing the product's functionality, such as through hydration and fiber content, as well as cooking methods that align with consumer preferences.

A：The new shelf space for Gatorade is reflected in the store setup with presence in both the main shelf and the perimeter, contributing to the brand's visibility and capacity to handle increased units and consumer demand.

A：For Gatorade's biggest brands, such as Lays, the approach involves a relaunch focusing on simplicity, nature, freshness, and removing artificial ingredients. This is applied globally and includes investment in better-for-you options and ingredients like avocado oil and olive oil.

A：The energy portfolio is expected to contribute to the segment's progress through a combination of distribution margin and ownership in Celsius, which is engineered to participate in the fast-growing profit pool of the energy category.

A：The strategies for enhancing the competitiveness of the beverage business include execution, affordability, and brand building, particularly in the softer drinks and parts of the functional hydration portfolio.

A：The Celsius brand is growing and the integration of the Alani new portfolio into the business has been positive so far. However, the full impact is expected to be seen in the coming months as not all distributors have been completed. The company is seeing improvements in execution metrics and should benefit positively from this going forward.

A：Recent acquisitions such as CTE, which will be in the March time frame, and Alani, which will be in the July time frame, are expected to help organic growth. The exact impact of these acquisitions is not quantified but will be reported on as the quarters evolve.

A：Pepsi is a brand that is very important for the portfolio and is seeing improvements both in the US and globally. Initiatives driving volume growth include a focus on no-sugar Pepsi, increasing advertising investment to communicate the brand's presence and taste, and increasing availability in restaurants and food consumption spaces away from home.

A：Mountain Dew has faced a more challenging project but is making good progress with teams iterating on innovation. The brand has a very local marketing model with different messages, innovation, and product portfolios in different parts of the country. Strategies to improve growth include continued innovation and local marketing approaches, which are expected to take some time to show significant results.

A：The test merging food and beverage distribution in Texas and Florida is showing positive initial numbers in integrated delivery and inventory points, making the company more cost-efficient and flexible to provide better customer service. Specific details on plans going forward are expected to be updated later in the year, and the company is learning from this process to scale solutions and implement innovations in IT systems and transportation.

A：The macroeconomic backdrop is influencing the company's guidance for the year with a focus on the middle and low-income consumer who continues to be price-sensitive. The company's guidance is based on observable trends and data from different parts of the world, with some markets showing positive trends and others neutral or weaker. Overall, the company's guidance is based on the data and continuous improvement from the first quarter.