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Coca-Cola’s Q4 profit falls as sales drop
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Coca-Cola yesterday said its fourth-quarter profit fell as the world’s biggest beverage maker sold less soda in North America.
The maker of Sprite, Dasani and Vitaminwater water said global sales volume rose 1 percent, helped by results in some overseas markets such as Asia.
In North America, however, sales volume declined 1 percent. Noncarbonated drinks such as Powerade performed well, but that was offset by a 3 percent decline in soda. Last week, PepsiCo also said its soda volume fell in the “mid-single digits.”
For the three months ended on December 31, Coca-Cola Co earned US$1.71 billion, or 38 US cents per share. Not including one-time items such as the restructuring of its bottling operations overseas, it earned 46 cents per share, in line with Wall Street hopes.
A year ago, the company earned US$1.87 billion, or 41 cents per share.
Although Coca-Cola and PepsiCo are tapping emerging markets for expansion and sell a wide array of beverages, the two companies are struggling to stem the decline in their flagship soda business back in their home market.
Americans have been cutting back on soda for years, whether it’s because they worry about the sugar in regular soda or, more recently, the artificial sweeteners in diet soda.
Beverage aisles have also gotten a lot more crowded, with competitors such as Monster energy drinks and Sparkling Ice waters increasingly taking up space.
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