RPT-UPDATE 1-Coke sees U.S. soft drink sales improving in 2009

Thu May 8, 2008 11:06pm BST
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CHICAGO (Reuters) - Coca-Cola Co (KO.N: Quote, Profile, Research) expects U.S. sales of its carbonated soft drinks to fall slightly this year but rise in 2009, its chief executive officer said on Thursday.

CEO Neville Isdell gave the forecast while speaking at the Executives' Club of Chicago.

Isdell said the company would not restore growth in U.S. soft drinks, what it calls "sparkling beverages," in 2008, but would see growth in that category in 2009.

Isdell said the Coca-Cola brand was not in a continuous decline, as some have proposed, adding that newer products like Coke Zero were helping it to improve market share.

"As the economy recovers, that market share is going to reflect itself in overall growth of the brand in the United States," Isdell said.

Coca-Cola shares closed down 74 cents at $56.29 on Thursday on the New York Stock Exchange.

(Reporting by Brad Dorfman; writing by Martinne Geller; editing by Phil Berlowitz, Toni Reinhold)

 
 

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