Coke loses fizz amid soda woes
Source: Agencies |
July 17, 2013, Wednesday
|
Print Edition
Print Edition
COCA-COLA'S profit dipped in the latest quarter as the world's largest beverage maker sold less soda in its flagship North American market.
The Atlanta-based company, which makes Dasani, Powerade and Sprite, said yesterday that global volume rose 1 percent in the quarter, helped by sales in countries including Vietnam and Indonesia. But in North America, it fell 1 percent, including a 4 percent drop in sodas.
For the second quarter, Coca-Cola Co said it earned US$2.68 billion, or 59 US cents per share. That's down 4 percent from US$2.79 billion, or 61 cents per share, a year earlier.
It blamed the performance on bad weather and challenging economic conditions.
Coca-Cola has increasingly been relying on emerging markets for growth, given the expanding middle-class populations in such regions.
The Atlanta-based company, which makes Dasani, Powerade and Sprite, said yesterday that global volume rose 1 percent in the quarter, helped by sales in countries including Vietnam and Indonesia. But in North America, it fell 1 percent, including a 4 percent drop in sodas.
For the second quarter, Coca-Cola Co said it earned US$2.68 billion, or 59 US cents per share. That's down 4 percent from US$2.79 billion, or 61 cents per share, a year earlier.
It blamed the performance on bad weather and challenging economic conditions.
Coca-Cola has increasingly been relying on emerging markets for growth, given the expanding middle-class populations in such regions.
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