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"Snack trends have held up despite deteriorating macros and price increases," Morgan Stanley analyst Bill Pecoriello told investors in a research note. He said the sales volume declines in the past four weeks were an improvement over recent period and year-to-date trends.
Goldman Sachs analyst Judy Hong said ACNielsen data showed sales volume fell by a modest 2 percent as snack makers raised prices by 11 percent.
PepsiCo Inc.'s Frito-Lay unit, the biggest multinational snack seller, reported solid sales in October, Hong noted.
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