Coke Sees 2nd-Quarter Worldwide Volume Up
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Coca-Cola Co. said it expects second-quarter worldwide case volume growth of 4%, in line with previous estimates, but warned that currency rates will lower its operating income for the year.
Coke said weak currencies will affect operating income by 4% to 5% instead of 3% to 4%, which the company initially predicted.
Case units are expected to grow 2% to 3% this quarter in North America, the company’s most profitable market, which has performed weakly for Coke the last two years. One case unit is equal to 24 8-ounce servings.
For the full year, Coke repeated its estimate of 5% to 6% case volume growth.
Coke shares rose $1.17 to $45.35 on the NYSE.
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