(RTTNews) -
Monday, soft drink maker The Coca-Cola Company (KO:
News ), at a two-day investor and analyst event in Atlanta, provided a roadmap for more than doubling system revenue by 2020 while increasing systems margins.
Senior Company Management, along with select Bottling System Leaders discussed the key goals including more than double servings to over three billion a day by 2020 and be No.1 in the nonalcoholic ready-to-drink business in every market and every category that is of value to the company.
Muhtar Kent, chairman and chief executive officer, The Coca-Cola Company said, "We know that winning in 2020 and beyond is going to require new capabilities, new models and new innovations. We are laser-focused on targeting the right consumers with fully integrated global marketing campaigns that work on many levels, across many geographies and cultures, and leverage a rich variety of media and channels. "
"To target aging and affluent consumers globally, we are actively exploring new ingredients, new functionality and new occasions. At the same time, we are creating new strategies that are winning over a massive new generation of teens to drive growth of Trademark Coca-Cola." Kent noted.
Chief Financial Officer Gary Fayard said, "The fundamentals of our business remain strong as we continue to gain market share globally and in key markets, expand our margins, and generate tremendous cash flows. Importantly, we are continuing to invest in the brands and capabilities to position us to build on the results we have delivered in recent years. We are confident that our 2020 Vision is achievable because our proven brand and operational strategies are flexible, our system and our Company are providing unmatched scale and reach, and our operations continue to generate strong and steady cash flows. We have a track record of returning cash to shareowners and diligently investing back into the business for profitable growth."
Middle October, the beverages giant, which makes, among others, Diet Coke, Fanta, Sprite, Coca-Cola Zero, reported a third quarter profit that was flat with the year-ago period due to poor operational performance across all its businesses. Net operating revenues declined 4% to $8.04 billion from $8.39 billion in the year-ago quarter. Worldwide unit volumes grew 2%, helped by international operations primarily in India and China.
Separately, reports said Monday, warehouse club Costco Wholesale Corp. (COST:
News ) stopped carrying some of Coca-Cola's products nationwide after a dispute over pricing. The Issaquah, Washington-based Costco reportedly declined to provide additional details. Coca-Cola Co. reportedly said it does not comment on on-going negotiations.
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