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Coke CEO Quincey Says Continued Downturn In Revenues Is Due To Refranchising

October 25, 2017: 12:00 AM EST
Coca-Cola revenues slid 15 percent in the third quarter, while organic revenues were up four percent. CEO James Quincey said revenue has been down recently because of the bottler refranchising program. The company is selling off its bottler operations, so it no longer has income from that source. This decline in revenues will continue for several quarters into the future because of this. “To put it simply,” Quincey said during an internal interview, “we’re transforming into an organization that is smaller in revenue, but larger in terms of profit margin and more acutely focused on innovation, brand-building and creating a stronger, even more consumer-centric portfolio.”
"Q&A: Coca-Cola CEO James Quincey on Q3 2017 Results", News release, The Coca-Cola Company, October 25, 2017, © The Coca-Cola Company
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