business / news / / Fortune
Frito-Lay, a subsidiary of PepsiCo, started cutting prices of its portfolio of chips products like Lay’s, Doritos, Cheetos.
Frito-Lay is cutting chip prices by 15% after years of significant price hikes.
KEY POINTS
- Frito-Lay's revenue turned negative in 2024 for the first time in over a decade.
- PepsiCo lost $50 billion in market value since its 2023 peak, largely due to Frito-Lay.
- Activist investor Elliot Investment Management pushed PepsiCo to lower prices and reduce product variety by 20%.
- Despite announced price cuts, some Doritos bags remain at peak prices on Walmart's website.
COMPANIES
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