Coca-Cola raises its annual sales forecast on global demand, higher prices [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
Both Coca-Cola and PepsiCo increase are also enjoying buoyant demand in international markets such as Europe and Latin America where relaunches of Georgia Coffee and Sprite reformulations have helped bump up sales. Coca-Cola's organic revenue in Europe, Middle East and Africa rose 15 per cent in the first quarter, while in North America it increased 7 per cent. The company's overall average selling price rose 13 per cent, while unit case volumes were up only 1 per cent. “They are doing good in certain international markets, which are a little bit more used to the effects of inflation, and Coca-Cola has frankly a lot of brand power so they are not seeing that kind of erosion,” said Christian Greiner, senior portfolio manager at F/m Investments, which owns shares of the beverage giant. Coca-Cola is also heavily promoting, overhauling their existing products and introducing newer items to spur demand among lower-income customers. The company expects fiscal 2024 organic sales t
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- 4/30/24 - Beat
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- 5/16/24 - Form 4
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