When Diane, the popular head cheerleader of Lincoln High School's A-squad, becomes pregnant by the well-known football quarterback Jack Bartlett, the two are kicked out of their respective homes and struggle to make ends meet. Desperate for a solution, Diane and her four cheerleader squadmates/best friends devise a plan to rob banks, using their cheerleading skills to cover up their tracks. With the help of illegal arms dealer Hank "The Terminator" Rogers, the squad successfully pulls off their first heist but soon attracts the attention of their rival, the B-squad's jealous head cheerleader Lisa Janusch. As the media frenzy surrounding the robberies grows, Diane and her friends must confront the consequences of their actions and decide where their loyalties truly lie. Will they be able to balance their criminal exploits with their cheerleading duties and personal relationships, or will it all come crashing down?

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Some movies that have similar genres and were produced around the same time as Sugar & Spice include Chicago, The Longest Yard, Find Me Guilty, The Big White, A Scanner Darkly, Striptease.

Sugar & Spice was released in theaters on January 24, 2001.