On September 25, the American soft drink giant Coca-Cola Company announced that it remains confident it will meet its earnings targets for the current year.
The company expects worldwide unit case volume to grow approximately 4 to 5 per cent during the third quarter, and, as a result, full year worldwide volume is also expected to be 4 to 5 per cent.
Doug Daft, chairman and chief executive officer, said, "Our results demonstrate that our business strategies are gaining traction. The management discipline and processes we have put in place over the past 18 months have allowed us to quickly respond to the challenging macroeconomic environment. With this discipline, we are taking decisive actions with our bottling partners in packaging, pricing, marketing and cost containment around the globe."
"Our business strategy is simple: to focus innovation in support of our core brands and to expand our brand portfolio through our unparalleled bottling system as we continue to strengthen our bonds with consumers at the local level."
Mr. Daft continued, "Even though the underlying fundamental strengths of our business have not changed, caution dictates that we closely monitor the increased uncertainty in macroeconomic conditions. Not surprisingly, following the tragic events of September 11, we have experienced lower growth rates in the United States as consumers modified their behaviour. Historically, as a company, we have experience in managing through periods of economic and political turmoil."
Coca-Cola expects to report final volume results and earnings for the third quarter during the week of October 15th.