PepsiCo (PEP) shares are on track to close higher on Oct. 16 despite losing KFC’s U.S. beverage business to its staunch rival: Coca-Cola (KO). The fried-chicken chain announced the Coca-Cola partnership this morning, with the switch beginning in January. KFC expects all 3,600 of its U.S. locations to be serving Coca-Cola by spring 2027.
The announcement comes as PepsiCo stock is struggling to regain momentum, currently down about 22% versus its year-to-date high in early February.
