This TikToker compared Subway’s old $5 Footlong promotion to the current combo price of a shocking $22.Here are three food stockpiles to fight the cost of living crisis

“It’s hardly even real food”: This TikToker compared Subway’s old $5 Footlong promotion to today’s combo price of a shocking $22.Here are three food stockpiles to fight the cost of living crisis

Thanks to inflation, the days of five feet long are long gone. But one customer claims the price of his Roast His Beef His Combo is now near his $22, which raises eyebrows in Seattle, Washington.

TikToker’s Jessie B said in the caption of the viral video, “It’s hardly even real food,” wielding a half-eaten sandwich at the screen.

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Moneywise contacted Subway stores in Seattle to confirm the price of the combo (including tax). A single Roast Beef Footlong costs over $13. This is more than double the promotion period introduced during the 2008 recession.

Times have certainly changed since then. With consumer prices still rising nearly 5%, customers can’t even look to the old fast food restaurants for reassurance.

Here, instead, are three food stockpiles that can help fight the cost of living crisis.

1. Mondelez International

Bills may be higher these days, but don’t expect Americans to cut back on candy and crackers.

In fact, according to the Monedelez 2023 Snacking State Report, 71% of global consumers snack at least twice a day, and more than half of households report that their weekly meals consist entirely of snacks. doing.

And despite repeated price hikes last year by major food companies, there was no backlash from customers.

Mondelez (MDLZ), known for popular brands like Oreos and Sour Patch Kids, reported an 18.1% increase in net revenue in the first quarter of this year, beating earnings to $0.89 per share.

CEO Dirk van de Putt said: “We continued to execute on our long-term strategy, and this year got off to a strong start with double-digit net revenue and earnings growth in the first quarter. ‘ said. “We saw broad demand across both developed and emerging markets as consumers around the world continue to prioritize our chocolate, biscuit and baked goods categories and brands.”

Mondelez has also updated its 2023 accounting guidance for organic net revenue growth of at least 10%, compared to its original forecast of 5% to 7%.

read more: ‘Keep your money tight’: Jeff Bezos says you might want to reconsider buying ‘a new car, refrigerator, or whatever’ – Here are 3 better buys to beat the recession

2. General Mills

As Americans continue to eat more at home to fight inflation (who would be surprised if subway fares are this high?), companies like General Mills (GIS) profit from that booty. is getting

The Minneapolis-based maker of popular Betty Crocker cake mixes and Haagen-Dazs ice cream says it’s seeing customers aggressively raising prices, according to The Wall Street Journal.

The company reported net sales of $5.1 billion in the third quarter of fiscal 2023, up 13%, and adjusted diluted earnings per share (EPS) of $0.97, up 17%.

“We continue to deliver strong results in a very volatile operating environment,” said CEO Jeff Harmening.

“Given our strong first quarter results and our confidence in our ability to adapt to continued volatility going forward, we are raising our full-year guidance for net sales, operating income and EPS growth.”

General Mills has raised its 2023 organic net sales growth rate to 10% to 11%.

3. PepsiCo

PepsiCo (PEP) sells more than soda. We also make breakfast brands Quaker Oats and Pearl Milling Company, as well as favorite snacks like Lays and Doritos.

Finance chief Hugh Johnston said in an interview with The Wall Street Journal that customers may not be spending big on big-ticket items like cars and technology, but they’re still “affordable in their lives.” They may be seeking a reward,” he said.

PepsiCo’s latest earnings report showed revenue growth of 10.2% in the first quarter of fiscal 2023 and earnings per share of $1.40.

It also raised its forecast for organic revenue growth of 8% this year, up from the previous forecast of 6%.

CEO Ramon Laguarta said, “Our results show that by winning pep+, the investments we’ve made in becoming a faster, stronger and better organization have laid the foundation for lasting and sustainable growth. It shows that there is

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This article is for information only and should not be construed as advice. It is provided without warranty of any kind.

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