Coca-Cola boosted by North American sales

Coca-Cola boosted by North American sales

American soft drink giant Coca-Cola has surprised everyone with better-than-expected financial results, thanks to increased North American sales in the fourth quarter.

Cost-cutting measures

North American turnover represents about half of the company's total sales, which means that the good performance in its home market spells good news for Coca-Cola. The previous three quarters represented a status quo at best, but Coca-Cola managed a 2 % turnover increase in its fourth quarter, reaching 5.37 billion dollars (over 5 billion euro). The main reason for the turnover increase was that it had implemented a 4 % price increase.

 

The company's total turnover dropped 1.5 % to 10.9 billion dollars (9.6 billion euro), which is still better than what analysts had expected. Its profit, at 44 cent per share, was also higher than the anticipated 42 cent per share.

 

CEO Muhtar Kent's efforts to curtail costs and sell more in the higher echelons of the market are paying off. In total, he wants to cut 3 billion dollars (2.65 billion euro) in yearly costs, to offset its slower growth.

Questions or comments? Please feel free to contact the editors


Hunkemöller wants to conquer Switzerland

17/08/2017

Dutch lingerie chain Hunkemöller aims to open a chain of physical stores in Switzerland, after having already opened a Swiss web shop in September 2016. The first physical store will open its doors in October.

Shoe brand Bally put up for sale

16/08/2017

Austrian investment firm JAB Holding wants to sell Swiss shoe brand Bally, hoping to get at least 600 million euro. The same company sold shoe brand Jimmy Choo not too long ago, as it wants to focus on its food brands henceforth.

Crocs loses patent battle

14/08/2017

Shoe manufacturer Crocs has lost a patent court case revolving around the shoe’s design. According to the American Patent & Trademark Office (USPTO), another company has had a similar design for much longer.

Coolcat's losses compound

14/08/2017

Dutch fashion chain Coolcat, part of entrepreneur Roland Kahn’s group, has not managed to lower its losses in 2016. On the contrary: its losses grew more than 50 % compared to the year before.

Zalando's growth once again surpasses 20 %

10/08/2017

German Zalando has achieved its 20 % growth target for the second quarter, but just barely. It still forecasts a 20 to 25 % growth for its full fiscal year.

Gucci files lawsuit against Forever 21

09/08/2017

Fashion label Gucci has decided to file a lawsuit against fashion chain Forever 21 in the United States. The case revolves around several pieces of clothing, all with a blue-red-blue or green-red-green ribbon. 

Back to top