{"id":10276,"date":"2024-05-01T10:00:26","date_gmt":"2024-05-01T07:00:26","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=10276"},"modified":"2024-05-01T10:00:26","modified_gmt":"2024-05-01T07:00:26","slug":"coca-cola-bets-on-pricey-sodas-international-demand-to-lift-annual-sales-forecast","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=10276","title":{"rendered":"Coca-Cola bets on pricey sodas, international demand to lift annual sales forecast"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/05\/coca-cola-bets-on-pricey-sodas-international-demand-to-lift-annual-sales-forecast.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><strong>Coca-Cola raised its annual organic sales forecast on Tuesday after topping first-quarter results as customers in the US and international markets shell out more money for its pricey sodas and juices.<\/strong><\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-1785146683\">\n<div id=\"cypru-140974696\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-8922228636373-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>The soda giant is seeing demand in the US surge mainly in the away-from-home category as consumers venturing out for movies and dining are willing to spend on its Coke sodas and Minute Maid juices.<br \/>\nCoca-Cola, similar to PepsiCo (PEP.O) which also beat its first-quarter results, is enjoying buoyant demand in international markets such as Europe and Latin America where relaunches of Georgia Coffee and Sprite reformulations have bumped up sales.<br \/>\nThe company\u2019s first-quarter organic revenue in Europe, Middle East and Africa rose 15 per cent, while in North America it increased 7 per cent.<br \/>\nOverall average selling price rose 13 per cent, while unit case volumes were up only 1 per cent.<br \/>\n\u201cThey 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,\u201d said Christian Greiner, senior portfolio manager at F\/m Investments, which owns shares of the beverage giant.<br \/>\nCoca-Cola is also overhauling their existing products and introducing newer items to spur demand among lower-income customers.<br \/>\n\u201cUS still remains in good shape,\u201d CEO James Quincey said in a post-earnings call, adding there is some purchasing power compression among lower-income customers.<br \/>\nCoca-Cola expects fiscal 2024 organic sales to grow 8 per cent to 9 per cent, compared with its prior forecast of a 6 per cent to 7 per cent rise.<br \/>\nFirst-quarter net revenue rose 2.5 per cent to $11.23 billion, beating LSEG estimates of $11.01 billion. Coca-Cola posted adjusted profit of 72 cents per share, compared with expectations of 70 cents.<br \/>\nCoca-Cola maintained its annual comparable earnings per share forecast of 4 per cent to 5 per cent growth.<br \/>\n\u201cIt is encouraging to see the company guide up but on an underlying dollar basis, it looks like everything is going to remain the same,\u201d Wedbush analyst Gerald Pascarelli said.<br \/>\nThe company\u2019s shares were down marginally in early trade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coca-Cola raised its annual organic sales forecast after topping first-quarter results as customers in the US and international markets spend more on its sodas and juices.<\/p>\n","protected":false},"author":3,"featured_media":10277,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[589,813,6782,568,2021,3471,3,4893,260,641,201,4818,7091,250,3330,3767,2294,67,187,7685,3752,34,69,2628,1277,3331,8507,1004,5838,7320,2247,6371,5612,6106,3798,1565,1006,380],"class_list":["post-10276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-africa","tag-coca-cola","tag-coffee","tag-cola","tag-consumers","tag-customers","tag-cyprus","tag-demand","tag-dollar","tag-earnings","tag-europe","tag-expectations","tag-georgia","tag-google","tag-google-news","tag-growth","tag-income","tag-inflation","tag-international","tag-international-markets","tag-investments","tag-markets","tag-middle-east","tag-money","tag-movies","tag-news","tag-organic-sales","tag-power","tag-price","tag-products","tag-profit","tag-purchasing-power","tag-revenue","tag-sales","tag-shares","tag-surge","tag-trade","tag-us"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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