Coca-Cola has raised its sales guidance for the full year. Despite price increases, demand for sugary drinks has remained strong and has cushioned higher costs for things like corn syrup and aluminum cans, the company said. Coca-Cola now expects sales to increase by 12 to 13 percent and adjusted earnings per share to increase by 14 to 15 percent for the current fiscal year. The beverage manufacturer had previously expected sales growth of seven to eight percent and a profit increase of eight to ten percent. In the quarter ended July 1, Coca-Cola’s sales grew 12 percent to $11.3 billion, beating analyst expectations of $10.55 billion. Coca-Cola’s toughest competitor, PepsiCo, recently announced that it sees room for further price increases thanks to stable demand.
Beverage Industry – Things are going well at Coca-Cola – Economy
