Coca-Cola sales beat first-quarter estimates as it moves beyond sodas
Los Angeles — Coca-Cola is getting results from its moves to slim down operations and revamp products for healthy-minded consumers. The company posted sales that beat analysts’ estimates in the first quarter, helped by refreshed versions of its core diet brands and a growing portfolio of products that push beyond soda into new categories. Atlanta-based Coca-Cola has, for years, been selling off the bottlers it owned to refocus on becoming a marketing and formulation company. After a lengthy transition period, the strategy is finally bearing fruit, with the company saying it’s on-track to deliver full-year targets. The growth of both new and core brands affirms the company’s long-term strategy. Slow results previously failed to excite investors, putting Coke’s stock in a holding pattern. That may now change. The shares gained as much as 1.6% as of 7.42am in early trading in New York. The stock was down 4.1% this year by Monday’s close. CEO James Quincey has pushed Coke to grow beyond...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.