Coke's namesake sodas see declines in key markets
NEW YORK (AP) — Coca-Cola saw the popularity of its namesake sodas decline in key markets around the world during the first quarter, reflecting a mix of changing tastes, challenging economic conditions and a shifting business strategy.
The world's biggest beverage maker said Wednesday that sales volume for sodas like Diet Coke and Cherry Coke that bear its name collectively declined in North America, Europe and the unit including the Middle East and Africa.
Total sales volume rose 2 percent, helped by performance of other sodas like Fanta and strength in non-carbonated drinks like bottled water and sports drinks.
James Quincey, Coca-Cola's president, also noted Wednesday that the economies of emerging markets have been hit harder than developed markets.
Since Coke tends to sell more sodas than non-carbonated drinks in those markets, he said that affects its global soda sales.