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COKE SALES BUBBLING UP
Published September 20, 1994
According to this morning's ATLANTA CONSTITUTION, projected 3rd-quarter international sales for Coca-Cola Co. will jump 14% from last year, while domestic sales will rise 5 to 6% -- enabling the company "to post its best quarterly volume gain in five years." Coca-Cola Chair and CEO Roberto Goizueta "credited aggressive marketing -- including the company's new contour bottle, summer and World Cup promotions, and effective ad campaigns -- and good weather in Germany and Japan. ... But the huge success of the plastic version of the classic curvy Coke bottle is the eye-opener." Goizueta: "I don't remember seeing this kind of connection (with the consumer) since 1985 -- when we changed the formula and then brought back the original formula as Coca-Cola Classic." Goizueta also said the company's additional revenue is being directed "into marketing, which had been pared in some markets to meet earnings goals" (Cynthia Mitchell, ATLANTA CONSTITUTION, 9/20). THIRST QUENCHERS: The WALL STREET JOURNAL reports that Coke's domestic growth has been helped, not just by the new plastic bottle, but also by the company's "new juice and sport drinks." The JOURNAL also says dramatic volume gains of up to 40% are expected "for the quarter in the region that covers Eastern Europe, the Middle East, and India" (Laurie Grossman, WALL STREET JOURNAL, 9/20). STRIKE IMPACT: In today's USA TODAY, Lehman Bros.' Caroline Levy "notes Coca-Cola controls much of the baseball stadium fountain business," but says earnings have not been affected by the MLB strike. Levy: "Should the strike continue (into next season), this could become an issue" (Ellen Neuborne, USA TODAY, 9/20).