 reported positive quarterly sales for the end of 2017, sending shares up by 2.4 percent. Organic sales increased by six percent){kind=link}
Coca-Cola (NYSE: KO) reported positive quarterly sales for the end of 2017, sending shares up by 2.4 percent.
Organic sales increased by six percent as consumers are drinking more vitamin, tea and coffee.
The group is currently going through a downsizing operation, where it plans to decrease its number of global franchises.
Although sales were 20 percent down, at $7.5 billion, they were higher than analysts’ predictions, which stood at $7.4 billion.
Coca-Cola’s focus on mineral water and coffees has been in response to consumers looking their sugar intake.
Coca-Cola and rivals including Pepsi Co (NASDAQ: PEP) have been investing in new products to offset the decline in their trademark drinks. Investments include Honest Tea, Fairlife dairy and Suja Life LLC.
Coca-Cola teamed up with Honest Tea in 2017, in an attempt to appeal to the changing consumer tastes.
The beverage giant has also invested in existing products such as Diet Coke. The company relaunched the drink with four new flavours and in skinnier cans. Combined with the new Coke Zero helped boost sales in the third quarter of 2017.
These changes are on track for Coke to grow beyond its namesake brand and become a “total beverage company.”
“We achieved or exceeded our full-year guidance while driving significant change as we continued to transform into a total beverage company,” said James Quincy, Coca- Cola’s chief executive.
“While there is still much work to do, I am encouraged by our momentum as we head into 2018,” he added.