CEO Sees Challenging Second-Quarter. Says Crisis Response in Coke's 'DNA.'
April 21, 2020
Coca-Cola CEO James Quincey emphasized the company’s resilience today as it reported first-quarter earnings amid the COVID-19 pandemic. Here are initial takeaways from today’s earnings release and company-hosted calls with Wall Street analysts and media:
As consumers reacted in March to the spread of the COVID-19 coronavirus, Beverage Digest provided live updates on the impact to the US non-alcoholic beverage industry. Here is that coverage in its entirety.
Costa Coffee Accelerating Express Machine Expansion. Plus, 4Q Coke Revenue Jumps +7.0%. Shares Hit Record High.
February 7, 2020
During a Jan. 30 conference call with Wall Street analysts to discuss Coca-Cola’s fourth-quarter earnings report, CEO James Quincey was asked about potential impacts from the Coronavirus outbreak in China. And in an interview, he discusses plans for Costa Coffee in the US...
Company Blames ‘Scurrilous Allegations’ Despite Higher Pricing, Increased Competition.
November 30, 2018
The sudden October sales decline of National Beverage’s LaCroix sparkling water brand (BD Email Alert 11/13/18) appears to have continued into November. According to IRI data published this week by analysts at Susquehanna Financial Group, National Beverage’s sparkling water volume (made up of mostly LaCroix) declined -7.1% as dollar sales fell -1.2% during the four weeks ending Nov. 18. That followed a volume decline of -6.9% and a dollar decline of -2.7% during the four weeks ending Nov. 3, according to Nielsen data published more than two weeks ago by Wells Fargo. Prior to these declines, National sparkling water dollar sales had grown +6.3% in the four weeks ending Oct. 21, according
Protein, Fiber, Antioxidant Offerings Expected to Lower Cost of Reb-M Sweetener.
November 30, 2018
Next week, PureCircle will announce plans to extract proteins, soluble fibers and antioxidants from the same stevia leaf used to extract high-intensity sweeteners. PureCircle CEO Maga Malsagov told BD that the innovation will lower the cost of stevia sweeteners to manufacturers and boost PureCircle’s bottom line. Demand is rising for such ingredients in beverages as consumers look for increased functionality and health benefits. Sourcing protein, fiber and antioxidants from the same leaf as stevia sweeteners also will allow manufacturers to “enormously simplify” their labels, Malsagov said. PureCircle expects to become the first supplier to commercialize the new stevia leaf ingredients, starting in the
During an earnings conference call on Oct. 30, CEO James Quincey was asked about any plans for beverages infused with CBD, which is extracted from cannabis and said to relieve inflammation (among other benefits). “We don’t have any plans at this stage to get into this space,” he answered. Quincey later told CNBC: “It’s just not something we’re interested in.” The answer appears to close the door on the ingredient at Coke, for now at least. Coca-Cola had said in September that it was “closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world.” In an interview with Quincey following the conference call, BD asked Quincey how Coke evaluates such an ingredient. Getting to “serious consideration” means crossing a number of “hurdles,” he said. “To put it in simple terms, there are at least three: Is it safe, is it legal, and is it consumable?” Quincey asked. He said safety means reaching a “consensus
There has been no shortage of speculation this year about whether PepsiCo will follow Coca-Cola’s lead in refranchising its U.S. soft drink bottling and distribution system. Some industry insiders believe the company’s recent CEO hand over to Ramon Laguarta could open the door to a strategy change. Others wonder how challenging it would be for PepsiCo to line up buyers for a full-scale refranchising. PepsiCo executives have said