Coke 3Q Profits Down 24%

Posted on by Chief Marketer Staff

The Coca-Cola Co. reported a 24% drop in third-quarter profit on flat revenue of $5.7 billion citing weak operating conditions, particularly in North America.

“As we have said, our performance has fallen short of the goals we have set for ourselves,” chairman and CEO Neville Isdell said in a statement. “While we are seeing positive results in some regions, we are not yet fulfilling our potential. We are taking the necessary steps to return our company to its proper growth course.”

In North America both unit volume and profits were impacted by soft retail traffic, poor weather in key regions and higher wholesale and retail pricing compared to last year. Case volume decreased 3% while pricing of some brands increased 6% to the consumer.

The company said that its new reduced calorie cola C2 has achieved positive results in terms of awareness, trial and repeat measures. High pricing when the product sold for 40% above Coke’s core brands hurt early summer sales. The packages now sell for about 20% of the price of core brands.

Isdell said in a presentation to employees that a lack of personal accountability and internal politics have hurt the company, according to news reports.

For the nine months ended Sept. 30, the company reported revenue of $16.7 billion compared to $15.9 billion one year ago.

More

Get Content Like This Delivered to Your Inbox

Related Posts

Chief Marketer Videos

by admin

Chief Marketer Top Shops

TRCO MARKETING WUNDERMAN VERTICAL MARKETING NETWORK UPSHOT TWO/TEN TRACK MARKETING GROUP TPN TIPTON & MAGLIONE TIC TOC TEAM EPIC TEAM ENTERPRISES TEAM DIGITAL PROMOTIONS THE STRATEGIC AGENCY SWITCH SOURCE MARKETING SOHO EXPERIENTIAL SLANT SCOUT SPORTS & ENTERTAINMENT RYAN PARTNERSHIP RUBIK MARKETING REVOLUTION RE:FUEL AGENCY REDPEG MARKETING RED MOON MARKETING PSE-PACKAGED SPORTS AND ENTERTAINMENT PRO MOTION PRIZELOGIC POWERPACT PGW EXPERIENCE NEXT MARKETING NATURAL SELECTION PROMOTIONS MOMENTUM WORLDWIDE MKTG MIRRORBALL MICHAEL ALAN GROUP MASTERMIND MARKETING MATCH MARKETING GROUP THE MARS AGENCY MARKETVISION MARKETING WERKS THE MARKETING STORE MARKETING RESOURCES MARKETING LAB THE MARKETING ARM MARKETING ACTIVATIONS GROUP MARDEN-KANE LIVE NATION MEDIA & SPONSORSHIP LIKEABLE MEDIA LEGACY MARKETING PARTNERS LEADDOG MARKETING GROUP LAUNCHFIRE LAGARD´ERE UNLIMITED KICKING COW PROMOTIONS JACK MORTON WORLDWIDE INTERACTIONS THE INTEGER GROUP INSPIRA MARKETING IN MARKETING SERVICES IC GROUP HMT ASSOCIATES, INC. HELLOWORLD GROW MARKETING GOOD SOLUTIONS GROUP GOLDNFISH MARKETING GROUP LLC GMR MARKETING GEORGE P. JOHNSON GEOMETRY GLOBAL GENERATION Z MARKETING GAGE MARKETING GROUP FUSE, LLC FORMULA STREET INC. FLUENT FCBX FCB/RED FAME ESCALATE THE ELEVATION GROUP EASTWEST MARKETING GROUP DON JAGODA ASSOCIATES DEPARTMENT ZERO CONCEPT ONE COMMUNICATIONS COLLABORATIVE MARKETING GROUP COLANGELO CATAPULT CARDENAS MARKETING NETWORK BRANDFORCE BRAND CONNECTIONS BLUE CHIP MARKETING WORLDWIDE BFG COMMUNICATIONS BECORE BDA ATTACK! MARKETING A2G ARC ALL TERRAIN ALLIED INTEGRATED MARKETING ALLIED EXPERIENTIAL ALCONE ACTIVENT MARKETING, LLC THE A TEAM
×