Coca-Cola confirms Coke with cane sugar is coming
Despite fanfare, 'New Coke' fizzles with consumers
Coca-Cola is a quintessential American product, with fans all over the world. So why would Coke change its recipe after nearly 100 years? This LiveNOW and Then full episode takes us back to April of 1985, when Coca Cola pulled its cans and bottles off shelves in favor of “New Coke” – an attempt to get an even larger share of the soft drink market.
Coca-Cola is adding a cane-sugar version of its signature soda to its beverage lineup this fall.
News of the Atlanta-based company’s latest change comes after President Donald Trump said on social media last week that Coca-Cola had agreed to use real cane sugar in its flagship product in the U.S. instead of high-fructose corn syrup.
Coca-Cola confirms cane sugar addition
Dig deeper:
Coca-Cola confirmed it was adding cane sugar to beverages, with company Chairman and CEO James Quincey telling the Associated Press that Coke will expand its product range "to reflect consumer interest in differentiated experiences." Coke currently sells Mexican Coke, which is made with cane sugar, in the U.S.
FILE-Bottles of Coca-Cola are displayed at a grocery store in Corte Madera, California. (Photo by Justin Sullivan/Getty Images)
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"We appreciate the president’s enthusiasm for our Coca-Cola brand," Quincey said in a conference call with investors on Tuesday. "This addition is designed to complement our strong core portfolio and offer more choice across occasions and preferences."
Coca-Cola earnings
By the numbers:
The Associated Press noted that Coca-Cola reported better-than-expected earnings in the second quarter as higher prices negated weaker sales volumes.
Case volumes dropped 1% globally and 1% in the U.S., but Coke told the AP Tuesday that pricing increased 6% for the April-June period.
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Moreover, global case volumes of Coca-Cola dipped 1%, primarily due to weaker sales in Latin America. But Coca-Cola Zero Sugar saw volumes grow 14%.
Coca-Cola also saw its revenue climb to $12.5 billion, the AP reported, citing analysts polled by FactSet. The company also told the AP Tuesday it now expects full-year adjusted earnings to grow 8%.
The Source: Information for this story was provided by the Associated Press, which cites comments from Coca-Cola’s CEO about the cane-sugar version of its soda and financial data. This story was reported from Washington, D.C.