While many economists have warned about the growing risk of a recession this year, one investment expert said Canadians should be looking to add recession-proof names like food companies to their portfolios.
about the growing risk of a recession this year, one investment expert said Canadians should be looking to add recession-proof names like food companies to their portfolios.
Lau said while Russia’s attack on Ukraine, supply chain issues and higher commodity costs have impacted food businesses, some of these stocks, like The Hershey Co., are still trading close to all-time highs. “What I like about it [Hershey] is they're mostly, of course, chocolate, candy and also you know salty snacks,” she said.
Lau added that snack companies like Hershey also benefit from holidays such as Valentine’s Day, Easter and Halloween. As well, she flagged that the company is “expanding production to get rid of those supply chain issues” that have emerged during COVID-19 and “reinvesting in those brands,” so she expects growth to continue at the snack company.
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