Coca-Cola to roll out a new no-calorie soda
Coke Zero is being replaced by Coke Zero Sugar.
Goodbye, Coke Zero. Coca-Cola Co. announced Wednesday that it will stop selling that no-calorie soda in the United States and replace it with a different calorie-free offering: Coca-Cola Zero Sugar.
The new soda is scheduled to start hitting shelves in August. Its rollout comes as the company says sales of its low- and no-sugar beverage options are on the rise. Coca-Cola Zero Sugar was introduced in 25 markets around the world in 2016, including Mexico and Britain.
“We’re confident our new and improved Coke Zero Sugar recipe delivers a great taste that Coke Zero fans in the U.S. will love,” Stuart Kronauge, the company’s senior vice president of marketing for North America, said in a statement. “We also hope that people who love the unforgettable taste of Coca-Cola, but want less sugar, will try it and enjoy.”
The new soda contains no sugar and no calories, and it has about as much caffeine as Coke Zero, according to the company.
Coca-Cola said that to ensure a seamless introduction, it tested the recipe with U.S. consumers for more than a year.
Also on Wednesday, Coca-Cola announced its second-quarter results.
The Atlanta beverage giant said that for the three months that ended June 30, it earned $1.37 billion, or 32 cents a share. That’s down from $3.45 billion, or 79 cents a share, in the same quarter last year.
Earnings, adjusted for one-time costs, were 59 cents a share. That was better than the 57 cents expected by analysts surveyed by Zacks Investment Research.
Its revenue of $9.7 billion was down 16% from $11.54 billion in the year-earlier quarter because of complications updating its bottling facilities and unfavorable currency exchange rates, it said. Analysts expected $9.71 billion.
Total sales volume worldwide was mostly f lat. Sales of juice, dairy and plant-based beverages rose 3%, tea and coffee rose 2%, waters and sports drinks rose 1%, and sparkling soft drinks saw no gains.
The company anticipates full-year earnings per share will be flat to down 2% from last year’s $1.91 a share. Its previous outlook was for the results to be down 1% to 3%.
Coca-Cola shares rose 50 cents, or 1.1%, to $45.74 on Wednesday.