Saturday October 10th, 2015 12:09PM
11:23AM ( 46 minutes ago ) News Alert

Coca-Cola's profit slips as US soda sales flag

By The Associated Press
NEW YORK (AP) -- Coca-Cola says its fourth-quarter profit fell as the world's biggest beverage maker sold less soda in North America.

The maker of Sprite, Dasani and Vitaminwater water says global sales volume rose 1 percent, helped by results in some overseas markets such as Asia.

In North America, however, sales volume declined 1 percent. Noncarbonated drinks such as Powerade performed well, but that was offset by a 3 percent decline in soda. Last week, PepsiCo also said its soda volume fell in the "mid-single digits."

Although Coca-Cola and PepsiCo are tapping emerging markets for growth and sell a wide array of beverages, the two companies are struggling to stem the decline in their flagship soda business back at home.

Americans have been cutting back on soda bit by bit for years, whether it's because they worry about the sugar in regular soda or, more recently, the artificial sweeteners in diet soda. Beverage aisles have also gotten a lot more crowded, with competitors such as Monster energy drinks and Sparkling Ice waters increasingly taking up space.

Coca-Cola is looking for new ways to grow as a result. Earlier this month, the company said it was buying a stake in Green Mountain Coffee Roasters and teaming up with the company on a machine that would let people make cold drinks at home. People would be able to insert pods into the machine to make Coke drinks at home.

In the meantime, Coca-Cola and PepsiCo are looking to boost financial results by cutting costs. Coca-Cola said Tuesday it was expanding its cost-cutting program to produce another $1 billion in savings by 2016. PepsiCo also said last week that it would extend its cost-cutting program over the next five years, with a significant amount coming from job cuts.

For the three months ended Dec. 31, Coca-Cola Co. earned $1.71 billion, or 38 cents per share. Not including one-time items such as the restructuring of its bottling operations overseas, it earned 46 cents per share, in line with Wall Street expectations.

A year ago, the company earned $1.87 billion, or 41 cents per share.

Revenue fell to $11.04 billion, short of the $11.31 billion Wall Street expected.

Its stock was down 1 percent at $38.51 in premarket trading.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 9 months ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 9 months ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 9 months ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 9 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 9 months ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 9 months ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 9 months ago )
Local/State News
UN is next stop for Obama after success with Iran, pope; top issues are IS, Syria, Russia
NEW YORK (AP) — Fresh from successes on Iran and with the pope, President Barack Obama still carried heavy burdens into critical meetings this week at the U.N. General Assembly.They include the threat...
3:31PM ( 1 week ago )
Stunning Congress, House Speaker Boehner announces plans to resign; tea party declares victory
WASHINGTON (AP) — Plunging Congress into deeper turmoil, House Speaker John Boehner abruptly announced his resignation Friday, shutting down a tea party drive to depose the nation's highest-ranking Re...
6:14PM ( 2 weeks ago )
Tornado heavily damages 10 homes but causes no injuries on island in South Carolina
JOHNS ISLAND, S.C. (AP) — A tornado quickly blew through a neighborhood on the South Carolina coast early Friday and blew out windows, knocked down trees and heavily damaged ten homes.The tornado touc...
5:08PM ( 2 weeks ago )
Caterpillar says it may cut more than 10,000 jobs by 2018, lowers 2015 revenue expectation
Caterpillar is planning another round of job cuts that could exceed 10,000 people through 2018, as the construction and mining equipment maker adjusts to downturns in key markets.That could amount to...
10:06AM ( 2 weeks ago )
Escaped tarantula grounds Atlanta-bound flight in Baltimore
An eight-legged creature that escaped in the cargo hold of a passenger flight from Baltimore-Washington International Airport to Atlanta's Hartsfield-Jackson International grounded the plane and sent passengers onto another flight.
By The Associated Press
9:06AM ( 2 weeks ago )