PepsiCo Was Just Dealt Another Blow by Coca-Cola

KFC announced it will switch from Pepsi to Coca-Cola products across its 4,000 U.S. locations, marking the third major loss for PepsiCo this year after similar switches by Marriott and Costco. The deal is expected to cost PepsiCo approximately $50 million in revenue. PepsiCo faces additional headwinds from changing consumer habits and GLP-1 drug adoption, which disproportionately impact its snack and full-sugar beverage portfolio compared to Coca-Cola's more diversified low/no-calorie offerings.