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Following the leadership transition for Coca-Cola North America (CCNA), $KO's BoD announced the appointment of Jim Dinkins as Senior Vice President of CCNA. Dinkins was recently appointed as President of CCNA, who will be succeeding Alexander Douglas effective Jan. 1, 2018.
Net sales for $MNST's Strategic Brands segment, which includes the various energy drink brands acquired from $KO, for 3Q17 increased 6.2% to $76.6MM from last year. Net sales for Other segment, which includes certain products of American Fruits & Flavors sold to independent third parties, fell 9% to $5.2MM.
The beverage company $KO, which is planning to launch three ready-to-drink McCafe Frappes with $MCD next year, reported its third quarter 2017 profit of $1.44Bil, up 38% from a year ago. As Soda tax is becoming the hot topic around the country, $KO’s newest diet Coke Zero Sugar helped the sparkling soft drinks unit case volume to remain flat in 3Q17.
$KO said Alexander Douglas Jr. will retire as President of Coca-Cola North America (CCNA) on March 1, 2018. He will be succeeded by James Dinkins, who currently serves as President of the Minute Maid Business Unit and Chief Retail Sales Officer for CCNA. Dinkins will begin his new duties Jan. 1, 2018.
$MCD said it plans to expand its McCafé coffee drinks to the beverage aisle in 2018 with three new ready-to-drink McCafé Frappes, Caramel, Mocha and Vanilla, in partnership with $KO. The new drinks, to be produced, distributed and marketed by the Coca-Cola system, will be available in re-sealable PET bottles at retailers nationwide.
The Way Forward - With more than 1.9Bil beverages serving per day, the beverage giant $KO introduced the Coca-Cola Zero Sugar, a low-calorie soft drink, which will replace the 2005 debut Coca-Cola Zero. The new no-calorie brand is expected to hit the U.S. stores in August and it has already been launched in few other markets, including the UK and Mexico.
Unit case volume for sparkling soft drinks, which accounts for more than 70% of $KO’s total volume sales, was flat during 2Q17. $KO recently introduced its 3rd sugar-free product, ‘Coke Zero Sugar’ following the Diet Coke and Coke Zero. As consumers shift to low-calorie, low-sugar products, $KO is globally expanding the Low- and No-sugar soft drinks.
Under its new boss James Quincey and his overhaul to become a ‘Total Beverage Company’, $KO reported a drop in revenue for the second quarter 2017, down 16% to $9.7Bil. Current quarter revenues were hurt by bottling divestitures and ForEx headwinds. Coca-Cola’s revenue from bottling investments plunged 46% to $3.03Bil.
Food company $PEP continued its winning streak with yet another strong quarter. The $KO rival's revenue in 2Q17 rose 2% to $15.7Bil, riding on steady growth in Frito-Lay North America segment. Net income rose to $2.1Bil, or $1.46 per share, from $2Bil, or $1.38 per share a year ago. Core (non-GAAP) earnings during this period was $1.50 per share.
$GIS appointed Ivan Pollard as global CMO, effective July 10, 2017. He was most recently SVP, strategic marketing for $KO North America. Pollard will be accountable for establishing $GIS' first global marketing and media planning function responsible for marketing strategies, connections planning, and building organizational capabilities globally.
$KO announced the final results of the Offer and Solicitation for nine series of outstanding debt securities issued by its subsidiary Coca-Cola Refreshments USA. $KO is amending the Amended Statement and extending the expiration of the consent solicitation and tender offer for two series of notes until June 30, 2017.