Coca-Cola Results Boosted by Premium Drinks and Mini Cans
Coca-Cola has reported a boost in its third-quarter results, driven by sales of premium beverages and mini cans, despite sluggish demand in the US.
The company noted a divergence in consumer behavior between North America and Europe, with higher-income buyers opting for more expensive brands like Smartwater, Topo Chico, and Fairlife, while middle- and lower-income consumers face more pressure.
Henrique Braun, Coke's chief operating officer, said the company has focused on affordability by shrinking package sizes and leaning into sales of mini cans.
- Coca-Cola will sell individual, 7.5-ounce mini cans for the first time at North American convenience stores starting January.
- The mini cans have a suggested retail price of $1.29.
Coca-Cola's organic revenue rose 6% to $12.41 billion in the July-September period.
Author's summary: Coca-Cola's Q3 results boosted by premium drinks and mini cans.