The soda, “ Coke -Cola Zero Sugar, ” which is already on the market in much of Europe and Latin America , will be available in the US starting in August. The launch comes at a time when more cities around the US have enacted , or are weighing , soda taxes.
Coca-Cola announced the plan as it reported a 60 percent drop in second-quarter profits to $ 1 . 4 billion and a 16 percent decline in revenues to $ 9 . 7 billion. Both were hit by the company ’ s move to offload bottling assets in North America as it leans away from its traditional soda offerings.
Sales volume grew for three of the four beverage categories: juice , dairy and plant-based beverages; water , enhanced water and sports drinks ; and tea and coffee.
But volumes were flat in sparkling drinks .
The results translated into 59 cents per share , a penny above analyst expectations.
Chief executive James Quincey said Coca -Cola ’ s efforts to meet consumer demand for non -sweet and healthier offerings were on track as it transforms itself into a “total beverage company . ”
In addition to scoring increased sales of Coca-Cola Zero Sugar in Europe , Latin America , the Middle East and Africa, the company has launched new orange juice products in China and expanded its “ Innocent” brand of smoothies and premium juices in Western Europe .
Stuart Kronauge , senior vice president of marketing , said the soda giant plans marketing across social media , television, radio and retail around the US launch.
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