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Coca-Cola Sees Headwinds as North American Consumers Drink Less

Julia Sun
10/21/14 1:03 PM EDT
Coca-Cola says people in North America are consuming less carbonated beverages than they once did, and it's having an impact on the company's bottom line. The world's largest soda maker reported third quarter profit fell to 53 cents a share, just as expected. Global sales were the same as a year ago at just under $12 billion, that was below expectations. North America volumes, including tea and energy drinks, fell 1 percent. The beverage maker believes customers will catch up if they can put more drinks in front them. CEO Muhtar Kent said, 'We have taken a hard look at our progress to date and realize that while the strategies we laid out at the beginning of the year are on the right track, the scope and pace of our actions must increase.' That increase means sending more bottles to everywhere in the world. In the third quarter, Coca-Cola worldwide volume was up just 1 percent.
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