News Column

Coca-Cola Loses Fizz

July 16, 2013
coke sales

Coca-Cola's profits were down 3 percent in the second quarter compared with the same quarter last year, the company said Tuesday.

The beverage company blamed the drop in profits to $2.68 billion on unseasonable weather around the world, the sluggish economy in Europe and slowing growth in China.

Changing US beverage tastes also played a role, said the company, based in Atlanta, Georgia.

European sales fell 4 per cent while global sales fell 1 percent.

Although revenues fell 2.6 percent to $12.7 billion, the company remains the world's leading beverage company.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH