PepsiCo CFO on inflation: People are still buying Doritos
#Pepsico #youtube #stockmarket Recession-resilient stocks might be the talk of the town amid the drumbeat of an economic downturn; but for one CFO, the answer might be in the snacks. "One of the reasons defensive stocks truly do well in these types of environments is because consumers still want to have these small, simple, affordable treats and luxuries in their lives", says PepsiCo CFO Hugh Johnston. He told Yahoo Finance Live he's "not that surprised" consumers aren't trading down on more products.PepsiCo (PEP) reported first quarter earnings before the bell, showing net sales climbed 10.2%, despite overall prices rising 16%. Competitor Coca-Cola (KO) also saw strong demand for its product, fueled by its own price hikes. "You may not be able to go out and get a new car. You may not be able to go out and get a really fancy piece of technology, but you can afford a bag of Doritos or you can afford a Gatorade Zero after you work out," he explains. You can watch Julie Hyman, Brad Smith and Brian Sozzi's full interview with Hugh Johnston here. Key Video Moments: 00:00:16 - Johnston "not that surprised" about consumers 00:00:38 - Consumers can afford a bag of Doritos Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV
