Coke Posts Q2 Growth Amid a Decline in Diet Coke Sales
23 Jul 2015 --- The Coca-Cola Company has reported net revenues organic growth of 4% in the second quarter of 2015. The company gained global value and volume share in non-alcoholic ready-to-drink (NARTD) beverages in the quarter.
The decline in Diet Coke sales was felt most strongly in the US, where sales have steadily fallen, partially due to the public’s concern over the artificial sweetener aspartame and the trend for more fresh products. For the first time, sales of Pepsi Cola have overtaken those of Diet Coke in the US, making Diet Coke the nation’s third largest soft drink by volume. Sales of Coke Zero, however, have remained buoyant and continue to gain market share.
Global still beverage volume growth in the quarter reflects 7% growth in ready-to-drink tea, 8% growth in packaged water and double-digit growth in value-added dairy. Volume growth in these categories was partially offset by a 1% decline in juice and juice drinks attributable to price increases taken to cover higher input costs and continued industry softness in certain markets. We gained global value and volume share in still beverages, juice and juice drinks, ready-to-drink tea and sports drinks in the quarter.
“Our second quarter results were in line with our expectations and mark continued progress toward restoring momentum in our global business,” said Muhtar Kent, chairman and CEO of The Coca-Cola Company. “We are executing against our strategic initiatives and remain focused on driving efficiencies through productivity and making disciplined investment decisions to accelerate growth. While there is more work to do, we remain confident that we have the right plans in place and are committed to leveraging our superior brand portfolio together with our unparalleled global distribution system to continue creating long-term shareowner value.”
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