PepsiCo Misses Q2 Sales Estimates as North American Food Revenue Falls 2%

Q: As PepsiCo cuts 20% of its US products, which popular snacks and drinks could soon disappear from store shelves nationwide?

PepsiCo has not published a full official list of the roughly 20% of U.S. SKUs it plans to cut, but reports tied to its 2026 portfolio reset suggest a number of familiar snack lines are at risk of disappearing from shelves, with some cuts possibly varying by region. Among the snack products most widely cited as being discontinued are Lay’s Sweet & Spicy Honey, Lay’s All Dressed, Lay’s Lightly Salted Barbecue, several Lay’s Poppables varieties, Doritos Golden Sriracha, Doritos Dinamita Xxtra Flamin’ Hot, Cheetos Cheese Pizza Puffs, Cheetos Flamin’ Hot Asteroids, Smartfood Movie Theater Butter, Smartfood Brown Butter & Sea Salt Kettle Corn, Ruffles Smokehouse BBQ, Tostitos Cantina Thin N Crispy chips, Tostitos Nacho Cheese Dip in the 16-ounce jar, Fritos Queso Flavor Twists, Chester’s Carolina Style BBQ Fries, and Rold Gold Cheddar. On drinks, the evidence is thinner. The materials provided do not show a broad beverage discontinuation list tied to the 20% U.S. SKU reduction. The clearest named PepsiCo drink products already identified as discontinued are Pepsi Mango, Nitro Pepsi Original Cola, and Nitro Pepsi Vanilla. At the same time, PepsiCo is continuing to invest in major beverage brands such as Gatorade and Pepsi Zero Sugar rather than signaling a sweeping pullback there. So, the likely near-term shelf losses are concentrated more in lower-velocity snack varieties than in PepsiCo’s core drinks.

3 articles · Updated · Bloomberg · Jul 9

PepsiCo said second-quarter consumers pulled back enough to miss sales-growth estimates, with North American food revenue down 2% and snack volume flat.
Gas prices squeezed household budgets, slowing the company’s effort to revive its snack business even after it cut prices by as much as 15% on some brands earlier this year.
The weak North American showing adds detail to PepsiCo’s broader quarter, in which domestic beverage volume also fell while international demand helped support overall results.
The update underscores how fuel-driven cost pressure and cautious spending are limiting the payoff from price cuts for major packaged-food companies.