February 15, 2006 |
Coca-Cola Co. was sued in federal court in Springfield, Mo., by 50 independent bottlers who say plans to change how Powerade sports drinks are delivered to retailers violate their agreements with the world's largest soft-drink maker. Wal-Mart Stores Inc. asked Coca-Cola and bottlers last year to deliver Powerade to its warehouses instead of to individual stores so the retailer could give the drink more shelf space and increase sales.
February 8, 2006 |
Coca-Cola Co. said Tuesday that fourth-quarter profit fell 28% after it increased marketing to halt a decline in U.S. soda sales. Soda sales in the U.S. rose for the first time in almost a year after Coca-Cola boosted spending 12% to $2.29 billion. Net income dropped to $864 million, or 36 cents a share, on expenses to return overseas profit to the U.S. Excluding those costs, Coca-Cola earned 46 cents a share, exceeding analysts' average estimate by a penny.
December 31, 2005 |
Coca-Cola Co. on Friday said it was banned from another college campus this month when the University of Michigan halted purchases of the company's products because of concerns about the soft drink maker's labor practices in Colombia and environmental actions in India. The move by the school, which has more than 40,000 students, follows a similar ban this month by New York University, which has more than 50,000 students. The two are among Coke's largest university accounts.
December 8, 2005 |
Coca-Cola Co. backed its long-term earnings growth target and unveiled a marketing slogan that welcomes consumers to "The Coke Side of Life." Atlanta-based Coca-Cola, which has struggled for five years to boost sluggish soft drink sales and meet changing consumer tastes, said it still expected long-term growth in earnings per share in the high-single-digit range, as well as growth in operating earnings of 6% to 8%.
April 23, 2005 |
Groupe Danone said Coca-Cola Co. would take full control of a joint venture that distributes Evian, Sparkletts and Dannon bottled water in North America. Under a revised agreement, Coke would buy out the French food company's 49% interest in the venture. The price of the transaction was not disclosed.
April 20, 2005 |
Pfizer Inc., the world's largest drug maker, said Tuesday that first-quarter earnings dropped 87% because of a tax charge to return overseas profit to the U.S. and costs to suspend sales of the painkiller Bextra. Net income fell to $301 million, or 4 cents a share, from $2.33 billion, or 30 cents, a year earlier, the New York-based company said. Revenue rose 5% to $13.1 billion, beating the $12.5-billion average estimate of analysts.
April 19, 2005 |
The Justice Department has abruptly ended without taking action its nearly 2-year-old criminal investigation of allegations raised in a whistle-blower lawsuit of accounting irregularities at Coca-Cola Co., the world's biggest soft-drink maker said Monday. Separately, the Atlanta-based company said it had reached a settlement with the Securities and Exchange Commission over its business practices in Japan.
April 5, 2005 |
The reelection of billionaire investor Warren E. Buffett to Coca-Cola Co.'s board should be opposed by the company's shareholders because his business ties pose a conflict, Institutional Shareholder Services, the biggest advisor to funds on proxy votes, said Monday. "We maintain our position that Mr. Buffett shouldn't serve on the audit committee due to his numerous transactional relationships with the company," ISS said in a statement.
March 24, 2005 |
Coca-Cola Co. started a new advertising group and emerging markets division in a bid to catch PepsiCo Inc., whose sales have grown three times faster. Mary Minnick, who leads the Asia unit, will run the marketing and new products unit, Atlanta-based Coca-Cola said. The developing markets unit will focus on faster-growing regions, including China, Russia and Eastern Europe. The changes are effective May 1. Coca-Cola shares fell 22 cents to $41.18 on the NYSE.
February 17, 2005 |
Coca-Cola Co. said fourth-quarter profit rose 30% on lower costs and an unexpected increase in sales. Net income climbed to $1.2 billion, or 50 cents a share, from $927 million, or 38 cents, a year earlier. Sales increased 1.6% to $5.26 billion, the Atlanta-based company said. Shares of Coca-Cola rose 65 cents to $43.30 on the NYSE.