Pepsi was also featured as a prominent sponsor of Sundays’ SuperBowl game, with spots during the halftime show, and for products like Doritos and Mountain Dew.
“If you look at where we’ve been, since 2011, we’ve taken advertising and marketing up by 110 basis points,” Johnston said. “The reason we’re doing that is that we’re seeing good returns on investment.”
Shares of the global drink giant are are down nearly 4 percent over the past year, trailing competitor Coca-Cola, which is up 4 cents in the past 12 months. Despite a bubbly outlook on the consumer sector, Johnston does have one concern about the global financial markets, he said.
“My biggest concern in that regard, frankly, is if corporations wind up pulling back on investment because of the turbulent financial markets, and that ultimately plays its way into mainstream,” Johnston said. “But right now, I’m not seeing any signs of that.