Coca Cola Europacific Partners hikes guidance in bubbly update Coca Cola Europacific Partners (CCEP) has raised its full year guidance on the back of a strong third quarter. CCEP hiked guidance for revenue for the 2021 financial year, expecting comparable growth of 29 per cent to 30 per cent, up from 26 per cent to 28 per cent expected before. Operating profit is expected [...]
‘Headaches’ for Innocent as fruit for smoothies held up at ports 'Headaches' for Innocent as fruit for smoothies held up at ports Innocent’s CEO Douglas Lamont has warned decisions on hiking prices of the brand’s smoothies are “imminent,” as retailers face mounting cost pressures. Speaking to CityAM, Lamont said there were “huge challenges out there,” with cost pressures and limited driver availability. “We’ve all been quite battle-hardened [after the pandemic], in terms of keeping service levels. We’re [...]
Shortage of cans leads to scarcity of Diet Coke and Coke Zero products A shortage of aluminium cans looms for Coca-Cola’s bottling business in the UK and Europe as its supply chain has come under pressure. It comes as social media users have highlighted a scarcity of Diet Coke and Coke Zero products in recent weeks. Coca-Cola Europacific Partners (CCEP) said today that it has faced “a number [...]
Explained: Why Cristiano Ronaldo’s Coke snub at Euro 2020 was not the cause of Coca-Cola’s share price drop June 17, 2021 Cristiano Ronaldo was credited with knocking $4bn off the value of Coca-Cola earlier this week when he snubbed the soft drink – but does the theory stack up? The Portuguese football superstar pointedly moved two bottles of Coke from his desk at a Euro 2020 press conference and instead held up a bottle of water, [...]
Cristiano Ronaldo snub wipes $4bn off Coca-Cola’s market value June 16, 2021 Cristiano Ronaldo’s removal of two Coca-Cola bottles during a Euro 2020 press conference has coincided with a £4bn fall in the drinks giant’s share price. The Portugal captain moved the Coke bottles away from him during a press conference in Budapest on Monday ahead of his country’s opening game against Hungary. Ronaldo proceeded to hold [...]
Weekend Read: Foreign investors flee Myanmar as regime strengthens grip May 16, 2021 Businesses have continued to bow out of Myanmar after the bloody coup has killed more than 750 people and seen over 5,000 arrested for protesting the military’s forced reign. Companies began to flee Myanmar in March, like Japanese beverage group Kirin which had a $1.7bn stake in Myanmar Economic Holdings Public Company Limited, a company [...]
Low-wage employers including Coca-Cola and Hilton hiked CEO pay during pandemic May 11, 2021 Over half of the 100 companies in the S&P 500 Index that pay out the lowest median wages increased CEO salaries last year, according to a report published today by the Institute for Policy Studies. The left-leaning policy group said 51 companies identified boosted chief executive pay by adjusting the rules for assessing executive performance [...]
Coca Cola: ‘Optimism ahead’ for soft drink giant’s Europe business May 11, 2021 Coca Cola said there is “optimism ahead” for its businesses in Europe, Australia and New Zealand as the coronavirus conditions begin to improve across the regions. In the first quarter total revenue fell four per cent to €3,09bn, dragged down by a 7.5 per cent dip in European sales, which dropped to €2.29bn. However, the [...]
Coke UK CEO: Our sugar-free variants are thriving – but the full-fat Coca-Cola is safe March 24, 2021 Earlier this month, thanks to the strange vagaries of the internet, a years-old video emerged of the now-Chancellor Rishi Sunak expressing an opinion that – at the highest levels of a Government hell-bent on public health warnings – now seems almost scandalous. “I’m a total Coke addict,” he tells two schoolchildren. “A Coca-Cola addict.” The [...]
Ex-M&S clothing boss Jill McDonald appointed as Costa CEO November 20, 2019 Costa Coffee has appointed former Halfords and Marks & Spencer executive Jill McDonald as its new chief executive, to replace outgoing boss Dominic Paul next month. The coffee chain, which was sold by Premier Inn owner Whitbread to Coca Cola at the beginning of the year, said Paul will set down on 30 November, with [...]