The Latin America volume performance primarily reflected a double-digit decrease in Brazil and a low-single-digit decrease in Argentina, offset by a double-digit increase in Venezuela and a low-single-digit increase in Mexico. Performance with Purpose is our goal to deliver sustained value by providing a wide range of beverages, foods and snacks, from treats to healthy eats; finding innovative ways to minimize our impact on the environment and lower our costs through energy and water conservation as well as reduce our use of packaging material; providing a safe and inclusive workplace for our employees globally; and respecting, supporting and investing in the local communities in which we operate. Determining the expected life of a brand requires management judgment and is based on an evaluation of a number of factors, including market share, consumer awareness, brand history, future expansion expectations and regulatory restrictions, as well as the macroeconomic environment of the countries in which the brand is sold. Our pension and retiree medical contributions are subject to change as a result of many factors, such as changes in interest rates, deviations between actual and expected asset returns and changes in tax or other benefit laws. When consumers reach for a Frito-Lay snack, we want them to pair it with a refreshing Pepsi beverage or any of our other diverse beverage offerings. She was formerly Vice President of Brunswick Corporation and President of Sea Ray Group from 2001 until 2006. Similarly, our policy for certain warehouse-distributed products is to replace damaged and out-of-date products.
We also continued to accelerate our research and technology investments in the development of sweetener innovation. The company has employed efforts to minimize these environmental impacts via developments combined with recycling initiatives. Risk Factors — Our business, financial condition or results of operations may be adversely affected by increased costs, disruption of supply or shortages of raw materials or other supplies. However, we believe investors should consider these measures as they are more indicative of our ongoing performance and with how management evaluates our operational results and trends. Our annual financial statements are not impacted by this interim allocation methodology.
In addition, it is critical that we have the appropriate personnel in place to continue to lead and execute our plans. Global Tequila Market to Witness Growth Through 2021, Owing to the Introduction of New Flavors: Technavio. Operating profit performance was primarily driven by certain operating cost increases including strategic initiatives related to capacity and capability, higher commodity costs and unfavorable foreign exchange. Works include those of , , and. Coconut Water Market By Product Type Coconut water, Natural fruit sugar and by Regional Analysis - Global Forecast by 2017 - 2024.
Further, any downgrade of our current short-term credit ratings could impair our ability to access the commercial paper market with the same flexibility that we have experienced historically, and therefore require us to rely more heavily on more expensive types of debt financing. The Strauss Group produces and distributes Frito-Lay products in Israel. In addition, unstable economic, political and social conditions and civil unrest in certain markets in which our products are sold, including in Russia, Ukraine and the Middle East, and currency fluctuations in certain of these international markets, as well as Venezuela discussed below , Argentina and Turkey continue to result in challenging operating environments. Since net capital spending is essential to our product innovation initiatives and maintaining our operational capabilities, we believe that it is a recurring and necessary use of cash. They inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such forward-looking statement. We redoubled our efforts on talent development and improved the quality of the training we offer employees by, among other actions, investing in a new foundational leadership training program and completely revamping PepsiCo University.
Fluctuations in exchange rates may therefore adversely impact our business, financial condition or results of operations. In 2013, PepsiCo won the Buffalo Wild Wings account, giving us access to more than 1,000 locations, by demonstrating the advantages of our combined portfolio. These gains were partially offset by a double-digit decline in trademark SunChips. Such retailers may demand lower pricing and increased promotional programs. In the United Kingdom, also in response to regional conditions, PepsiCo snacks brand Walkers' reduced water usage at its largest facility by 45 percent between the years 2001 and 2008.
We continue to monitor the economic, operating and political environment in these markets closely and have identified actions to potentially mitigate the unfavorable impact, if any, on our future results. Unfavorable foreign exchange reduced operating profit growth by 3 percentage points. If we fail to obtain or adequately protect our ingredient formulas, trademarks, copyrights, patents, business processes and other trade secrets, or if there is a change in law that limits or removes the current legal protections of our intellectual property, the value of our products and brands could be reduced and there could be an adverse impact on our business, financial condition or results of operations. As previously disclosed, one of our foreign subsidiaries historically maintained a small office in Iran, which provided sales support to independent bottlers in Iran in connection with in-country sales of foreign-owned beverage brands, and which was not in contravention of any applicable U. We normally grant our independent bottlers exclusive contracts to sell and manufacture certain beverage products bearing our trademarks within a specific geographic area. Our global purchasing programs include fixed-price purchase orders and pricing agreements.
Doing business in this environment requires continued investment to keep our people safe and protect our supply chain against potential threats. Shortage of some of these raw materials and other supplies, sustained interruption in their supply or an increase in their costs could adversely affect our business, financial condition or results of operations. Our operations outside of the United States, particularly in Russia, Mexico, Canada, the United Kingdom and Brazil, contribute significantly to our revenue and profitability, and we believe that these countries and developing and emerging markets, particularly China, India and the Latin America, Africa and Middle East regions, present important future growth opportunities for us. A number of our sales incentives, such as bottler funding to independent bottlers and customer volume rebates, are based on annual targets, and accruals are established during the year for the expected payout. New product support includes targeted consumer and retailer incentives and direct marketplace support, such as point-of-purchase materials, product placement fees, media and advertising.
As a result, negative or inaccurate posts or comments about us, our products, policies, practices or advertising campaigns and marketing programs, our use of social media or of posts or other information disseminated by us or our employees, agents, customers, suppliers, bottlers, distributors, joint venture partners or other third parties, or consumer perception of any of the foregoing, may also generate adverse publicity that could damage our reputation. Archived from on October 22, 2010. Europe also, either independently or in conjunction with third parties, makes, markets and sells ready-to-drink tea products through an international joint venture with Unilever under the Lipton brand name. This strong performance is the foundation upon which we will build our future. Dec 30, 2017 Dec 31, 2016 Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Return on Sales Gross profit margin 54.
These impacts were partially offset by productivity gains, lower advertising and marketing expenses, prior-year incremental investments and a gain associated with the sale of an asset, it adds. These trends present excellent growth opportunities, but will require significant investment and development of the right people, skills and tools to compete. Win with diversity and inclusion. Net profit margin An indicator of profitability, calculated as net income divided by revenue. The property includes the with 45 contemporary sculptures open to the public. West served as Associate Attorney General of the United States from 2012 to 2014, after previously serving as the Assistant Attorney General for the Civil Division in the U.
Unfavorable foreign exchange translation reduced reported operating profit growth by 1 percentage point. Because our consolidated financial statements are presented in U. As such, we believe investors should also consider net capital spending when evaluating our cash from operating activities. In order to compute our organic revenue growth results, we exclude the impact of acquisitions and divestitures and foreign exchange translation from reported net revenue growth. In fact, our commitment to freshness and product dating serves to regulate the quantity of product shipped or delivered. We sell products under a number of brand names, many of which were developed by us. Changes to the retail landscape, including increased consolidation of retail ownership, and the current economic environment continue to increase the importance of major customers.