HARRISON, N.Y. -- The PepsiCo brand that owns Pepsi soda, as well as popular snack chips like Doritos, Fritos, Tostitos, and Cheetos, is ditching the idea of shrinkflation, and putting more chips into some bags and more bags in variety packs, the company announced on Tuesday. 

PepsiCo 'snack' revenue fell by one percent in the third quarter according to the company's CEO Ramon Laguarta who spoke on an earnings call Tuesday morning. 

"We feel good about the investments that we put this summer, mostly behind the potato chips category and Lays," Laguarta said. "That drove growth in the potato chips business."

Bags of Tostitos and Ruffles now contain 20 percent more chips, and the company is adding two or three extra bags of chips to variety packs, which typically contain around a dozen small bags of chips.

"We will use the fall, the winter season to put more investments behind Doritos and Tostitos. It’s the football season, there's a lot of gatherings, and those brands belong very well in those gatherings. And it will be a combination of value in the form of bonus packs and more product too. We're giving 20 percent more product in Tostitos and Ruffles, some of the brands that belong in those locations."