NEW YORK – “The U.S. consumer is doing just fine,” Hugh Johnston, PepsiCo vice chairman and CFO, told CNBC's “Squawk on the Street” last week.

Johnston credits lower gas prices and improved employment for PepsiCo’s increase in convenience store sales during Q4 2015. Last week the company reported better-than-expected quarterly net revenue, and “higher sales of snacks and beverages in North America helped reduce the impact of a strong dollar,” notes the new source.

CNBC writes that PepsiCo has been growing its portfolio to include more better-for-you options. Johnston said that as the company looks to make acquisitions, they’ll likely be in snacks outside of the United States. "Frankly, it really comes down to one metric: Does it create value for our shareholders?" he told CNBC. "If the answer is yes, we're interested. If the answer is no, we walk away."

PepsiCo also had a strong presence during the Super Bowl. "If you look at where we've been, since 2011, we've taken advertising and marketing up by 110 basis points," Johnston told CNBC, adding, "The reason we're doing that is that we're seeing good returns on investment."