Briggs Barton - Specialist Sales - US Consumer AC briggs.barton@jpmorgan.com J.P. Morgan Securities LLC North America Specialist Sales 09 July 2026 PEP, LEVI, COST, PLNT, LW, Chase Spending Data Briggs Barton +1 212 622 2677 briggs.barton@jpmorgan.com DETAILED COMMENTARY PEP Mixed to Negative MORNING UPDATE Mixed-to negative Q2 where North America Bev and Food both miss and mgmt commentary on the consumer is downbeat. Mgmt on the US: "results were tempered in the quarter as U.S. food and beverage category p ...