These are crazy times for the world. While some consumers might hesitate to buy an expensive shirt or a new car when budgets are stretched thin, no one stops eating. We all will want a cold drink and a snack at the end of the day. PepsiCo (NASDAQ: PEP) directly benefits from that reality.
Is this a good reason to invest in the company?
Pepsi CEO Ramon Laguarta's defensive business model enabled roughly flat organic company sales for the second quarter compared to the year-ago period. Generally accepted accounting principles (GAAP) sales, however, were down 3%. According to Factset, S&P 500 average sales for the same quarter declined by approximately 11%. . Operating cash flow, astoundingly, grew by 6%.
Source Fool.com