The Financial Post reports in its Friday edition that Pepsico lowered its profit outlook, with the snacks and beverage company's recovery in North America taking longer than expected. A Bloomberg dispatch to the Post says the maker of Doritos, Lay's and Gatorade now expects core constant currency earnings per share to grow between 1 and 2 per cent this fiscal year, after previously forecasting growth at the low end of 4 to 6 per cent. The company faces higher costs in North America in particular that are weighing on margins. Pepsico has struggled to boost sales of salty snacks in particular as inflation pressures consumers. It cut prices on some marquee brands earlier this year, but that hasn't proven sufficient and the company will be raising some prices in the coming months. Organic revenue declined slightly in North America for both food and beverages in the third quarter. Still, strong international sales helped Pepsico beat analyst estimates for earnings per share in the period. Shares of Pepsico are down 14 per cent this year, compared with a 14-per-cent increase in the S&P 500 Index. Some analysts said the results were not as bad as they had thought, with RBC saying there have been "some signs of progress."