Retailers, consumers and prices
Check Out Coca-Cola Enterprises feeling the pinch as cash-strapped consumers buy fewer soft drinks.
The world’s largest Coca-Cola bottler cut its full-year outlook on Thursday, even though third-quarter results met Wall Street’s view.
“Our performance remains below our expectations as we work through a combination of significant marketplace challenges, including a weakened North American economic environment, changing consumer purchasing patterns, and the impact of volatile fuel costs,” Chairman and Chief Executive John Brock said.
Brock said his company is working on its fundamental business review and would divulge details of that plan in December. The bottler now expects to earn $1.25 to $1.29 per share this year, excluding items, down from a previous forecast of $1.40 to $1.45 per share.