Inflation may be putting a serious crimp on the spending habits of many Americans, but the chief financial officer (CFO) of Purchase-headquartered PepsiCo (NASDAQ:PEP) has yet to see consumers foregoing his company”™s snack foods.
In an interview with Yahoo Finance, Hugh Johnston claimed that he was “not that surprised” that consumers have not jettisoned his company”™s product line ”“ even with increases in the retail prices of PepsiCo”™s snack foods and beverages.
“You may not be able to go out and get a new car,” he said. “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.”
Johnston added that PepsiCo never experiences financial tumult during rough economic times “when the consumer is more stressed on a macro basis because we are a simple treat in your life that makes you happy. So no, I’m not terribly surprised by it.”
