US Soccer boss apologizes after Coca-Cola rips 'offensive' claims

LOS ANGELES -- Coca-Cola slammed US Soccer after the federation claimed in court documents that playing for the men's national team carries more responsibility and requires a higher level of skill than that demanded of women players.

US Soccer president Carlos Cordeiro issued an apology for the "offense and pain caused" by the court document language hours after being ripped by a major sponsor.

The federation made the gender claims in papers filed this week in the gender discrimination lawsuit filed by the US Women's National Team against the federation in March of 2019.

"We are extremely disappointed with the unacceptable and offensive comments made by US Soccer," the Coca-Cola Company said in a statement on Wednesday.

"We have asked to meet with them immediately to express our concerns.

"The Coca-Cola Co. is firm in its commitment to gender equality, fairness and women's empowerment in the United States and around the world and we expect the same from our partners," added the company, which is a long-established corporate partner of both the US Soccer Federation and FIFA, football's global governing body and organizer of the men's and women's World Cups.

Cordeiro followed by saying the legal language didn't reflect US Soccer's true "values" or appreciation of the women's team.

"On behalf of US Soccer, I sincerely apologize for the offense and pain caused by language in this week's court filing, which did not reflect the values of our federation or our tremendous admiration of our Women's National Team," Cordeiro said.

"Our WNT players are incredibly talented and work tirelessly, as they have demonstrated time and again from their Olympic Gold medals to their World Cup titles."

The women players' lawsuit accuses the federation of gender discrimination and demands $66 million in back pay under the Equal Pay act and the Civil Rights Act.

Both sides have requested a summary judgment seeking a ruling in their favour before the May 5 trial date.

In its submission filed this week, the USSF argued that the hostile environments in which the men's team play are "unmatched by anything the Women's National Team (WNT) must face ..."

The federation also argued that "The job of (a men's national team) player (competing against senior men's national teams) requires a higher level of skill based on speed and strength than does the job of (women's national team) player (competing against senior women's national teams)."

Molly Levinson, spokeswoman for the players pursuing the lawsuit, called it a "ridiculous 'argument.'"

"It sounds as if it has been made by a caveman," Levinson said. "Literally everyone in the world understands that an argument that male players 'have more responsibility' is just plain simple sexism and illustrates the very gender discrimination that caused us to file this lawsuit to begin with.

"So looking forward to trial on May 5," Levinson concluded.

Cordeiro said US Soccer will make "immediate changes" going forward.

"I have made it clear to our legal team that even as we debate facts and figures in the course of this case, we must do so with the utmost respect not only for our Women's National Team players but for all female athletes around the world," he said.

"As we do, we will continue to work to resolve this suit in the best interest of everyone involved."

Agence France-Presse

Coca-Cola profits exceed estimates, shares bubble up

NEW YORK -- Coca-Cola's move to sell soda in smaller packages helped soften the blow from consumers who increasingly reject sugary drinks, shoring up profits in the second quarter and adding some fizz to its share price on Tuesday.

The soda giant increased profit and revenue targets for the year following the better-than-expected quarter, with gains in North America helping to offset the hit from a strong dollar which made products more expensive in some overseas markets.

Coca-Cola's share price popped to a new all-time high, finishing at $54.33, a gain of 6.1 percent. 

The company saw net income jump 12.6 percent from a year earlier to $2.6 billion. That included higher operating profits in North America and Asia Pacific which offset lower profits in Europe, Middle East & Africa and Latin America where currency effects were strongest.

Revenues overall climbed 6.1 percent to $10 billion.

In North America, the company cited the popularity of Coca-Cola Zero Sugar and the newly-introduced Coca-Cola Orange Vanilla, as well as strong sales of enhanced water and sports drinks. 

Robust sales of "mini" cans of Coca-Cola have helped bolster results in North America. The minis hold 7.5 ounces instead of 12 ounces and contain about 36 percent fewer calories.

The company does not break out sales by can size, but a Coca-Cola spokesman said mini-cans are growing double-digits in the US.

Globally, the smaller cans "still represent a very small part of the portfolio," and are "heavily weighted toward developed countries, mainly the United States," the spokesman said.

James Quincey, chief executive of the soda giant, said the company is "focused on building the consumer engagement," which includes consumers "leaning" in to smaller packages.

If volumes "are little bit negative, that hasn't concerned us because we think we can stabilize the volumes in the long-term and have the value be created ultimately through the price/mix," Quincey said on a conference call.

Garrett Nelson, an analyst at CFRA Research, said US consumers in general were still shifting away from sugary drinks, but that Coca-Cola has many offerings in water and instant coffee, the two fastest-growing beverage segments in 2018.

"We think there's a long-term trend to more lower-calorie beverages, but they're shifting their portfolio proactively," Nelson said. 

Nelson noted that North America was the weakest region in volumes, falling one percent compared with the prior year period, but revenues climbed two percent.

"They can sell those smaller packages and also pass on higher prices," Nelson said. "Consumers are continuing to buy the product." 

MORE 'BENIGN' DOLLAR ENVIRONMENT

Globally, soft drink sales rose four percent during the quarter, with the company's namesake beverage selling well, especially in emerging markets. The company's revamped diet soda, Coca-Cola Zero Sugar, also again notched higher volumes. 

Volumes increased in Europe, Middle East & Africa and in Latin America, but operating income declined in both regions due largely to the hit from a strong dollar.

The company's chief financial officer, John Murphy, expects an improved foreign exchange environment in 2020, saying the current cycle of dollar strength is one of the longest such stretches over the last 20 or 30 years. 

"As we move through the back half of the year, we expect the impact from currencies to become less of a headwind," he said. "Looking even further out at current spot rates and hedged positions, we expect a benign currency environment in 2020 compared to 2019.

source: news.abs-cbn.com

Coke eyeing cannabis-infused drink market

The Coca-Cola Company said on Monday it was closely watching the growing marijuana-infused drinks market, responding to a media report that the world’s largest beverage maker was in talks with Canada’s Aurora Cannabis Inc.

The discussions over a possible product tie-up, reported by Canadian financial channel BNN Bloomberg, could open a new front in Coke’s battle to overcome sluggish demand for its sugar-heavy sodas by diversifying into coffee and health-focused drinks.

The report said there was no guarantee that talks between the companies would be successful but Aurora shares responded by soaring 22 percent. Coke stock gained slightly on a New York market weakened by concerns over trade tariffs.

The marijuana industry has been attracting interest from a handful of big corporate names as Canada and a wave of US states move to legalize recreational use of the drug.

However, US corporations are still cautious about taking steps into a business that remains illegal under US federal law.

Both Coke and Aurora, in separate statements, said they were interested in cannabidiol infused beverages but could not comment on any market speculation.

Coke and Aurora would likely develop beverages that will ease inflammation, pain and cramping, the BNN report said, citing sources familiar with the matter

A partnership between Coke and Aurora would mark the first entry of a major manufacturer of non-alcoholic beverages into the market for cannabis-related products, up till now a hunting ground almost solely for the alcohol industry.

Corona maker Constellation Brands is plowing more than $4 billion into marijuana producer Canopy Growth to make cannabis based products, while Molson Coors Brewing Co’s (TAP.N) Canadian arm has said it will make cannabis-infused drinks with Hydropothecary Corp.

The size of the Constellation investment, announced a month ago, sparked speculation of other buy outs, investments and partnerships in the industry, pushing Canadian marijuana stocks higher.

“We continue to expect to see more deals between Canadian cannabis companies and the larger players in the global alcohol market who have yet to gain exposure to the category,” Cowen analyst Vivien Azer said.

Azer said he would not be surprised by a similar move from Pepsi with “with CBD seemingly a good compliment to their market share leading Gatorade franchise”.

source: news.abs-cbn.com

LOOK: Coke's newest sugar-free, low-sugar drinks

TOLUCA, Mexico - Softdrink lovers in North America now have more choices for their sweet fix, without sugar, one of the causes of diabetes.

Coca-Cola Sin Azucar, which literally translates to "no sugar" was launched in this North American country where Coca-Cola FEMSA runs one of its largest manufacturing plants.

The Sin Azucar can looks like a regular Coke can, except for the slim black band around the top lid and a similarly colored tab.

It replaced sugar-free Coke Zero here, and was formulated to taste very much like the regular variant, said Coca-Cola FEMSA corporate communications manager Juan Carlos Cortes.

"Every place is different. We improve the formula," Cortes said, adding the proportions of ingredients for Coke Sin Azucar were different from Coke Zero.

Coke variants are made from water, simple syrup made from water and sugar, sugar substitute or artificial sweeteners, and a secret blend from the company that gives the product its unique taste.

"If you make a switch in one of those products, you need to make sure the brand is going to get accepted," Cortes said.

"So you don't go through the new Coke kind of thing that we saw in the 80s," he said, referring to a reformulation that wasn't received well by some consumers.

In the neighboring US, Coke also launched the 90-calorie Coke Life, which is sweetened using a blend of Sugar and Stevia.


There was no immediate plan to bring Coke Sin Azucar or Coke Life to the Philippines, where sugar-free options include Coke Zero and Coke Light, Cortes said.

"It's a difficult decision to make because the bottlers and the Coca-Cola Company have to get together and determine what they're going to bring in," he said.

source: news.abs-cbn.com

Apple, Google, Coca-Cola top list of 100 most valuable brands: report

NEW YORK - Apple Inc., Alphabet Inc.'s Google and Coca-Cola Co. topped the list of the world's 100 most valuable brands in 2016, while technology and automotive brands dominated the overall rankings, according to a new report from brand consultancy Interbrand.

Microsoft Corp., Toyota Motor Corp., IBM Corp., Samsung Electronics Co. Ltd., Amazon.com Inc., Mercedes-Benz and General Electric Co. were also on the Top 10 list, according to Interbrand's 2016 Best Global Brands report.

Social network Facebook Inc., e-commerce giant Amazon and toy company Lego were the top growing brands.

This year, technology and automotive took 29 of 100 rankings on the annual list.

The report ranks brands based on financial performance, its influence on customers and its power to command a premium price or drive company sales.

Apple's brand value rose 5 percent from a year ago to $178 billion and Google's brand value was up 11 percent from a year ago to $133 billion, according to the report.

Apple, Google and Coca-Cola are the most valuable brands as "their finances are strong, their brand is a powerful driver of choice and they are very strong compared to competitors," Jez Frampton, Interbrand's global chief executive officer, said.

Hitting the Top 100 for the first time, French fashion brand Dior and Silicon Valley automaker Tesla Motors Inc at Nos. 89 and 100 respectively. Hugo Boss, Chevrolet and Kleenex dropped off the list, the report said.

Interbrand is part of Omnicom Group Inc.

source: www.abs-cbnnews.com

Food shorts: Rita's Italian Ice in PH, 4-in-1 pizza

MANILA – Here are some announcements that may make food lovers happy.

These are not endorsed by ABS-CBNnews.com.

Rita’s Italian Ice now in PH

The award-winning Rita’s Italian Ice recently opened a store at V-Mall in Greenhills, San Juan, offering frozen custard and fine grains of ice in different flavors and toppings.

The store also has shakes, Oreo cookie sandwiches and “blendini,” or a combination of frozen custard and ice, and other cool treats.

Now brewing in Manila: Di Bella Coffee

Customers of Cravings, The Coffee Beanery, Lombardi’s, Lucia, Epicurious, B&P, The Blackboard by Chef Michel and Wicked can now enjoy coffee from the Australian brand Di Bella.

The Cravings Group recently partnered with Brisbane-based Di Bella Coffee, which is known for its sustainable farming.

“It’s a match,” said Phillip di Bella, Di Bella Coffee’s managing director and founder. “I believe that our ‘From Crop to Cup’ philosophy is totally compatible with Cravings’ sustainable green practices, as we want more than just bringing coffee beans. We also want to contribute to the growing coffee drinking industry in the Philippines.”

Badjie Trinidad, chief executive officer of The Cravings Group, for her part said: “During one of our visits in Melbourne, we had the chance to meet Phillip and we were delighted with his beginnings and rise to become Australia’s Coffee King. But what was more fulfilling to know is that his business has helped improve the lives of many coffee farmers around the world, and that we hope to create the same positive impacts to Filipino coffe farmers, which is is very much willing to share.”

4-in-1 pizza for the holidays

Homegrown pizza chain Greenwich is offering a party-size pizza with four different flavors just in time for the holidays.

The four flavors in the 15-inch Greenwich 4-in-1 Overload pizza include Pepperoni, All Meat and Cheese Overload, Hawaiian Overload and Ultimate Overload.

Targeted at families and groups of friends, the new pizza is priced at P549 for dine-in and takeout transactions.

An Italian Christmas party

Looking for a Christmas party venue? Trattoria Poggio Antico at Tuscany, Mckinley Hill in Taguig is offering customized food packages.

The 90-seater restaurant, which serves classic Italian fare, will come up with a menu depending on a customer’s budget.

For more information, call (02) 551-1962.

New McDonald’s Coca-Cola glasses

Fast food chain McDonald’s fuses modern and contemporary designs in its 2014 Coca-Cola Modern Glass collection, which takes inspiration from graphic elements.

The six glasses in the collection feature the following patterns – diamond, linear, mosaic, pixel, ripple and steel.

 Customers can take home a glass from the new collection by adding P25 to a purchase of a McDonald’s value meal or a BFF bundle.

“The Coca-Cola glasses are a much-awaited tradition among McDonald’s markets across the Asia Pacific, especially the Philippines. We are very thankful that our Filipino customers continue to be excited to collect iconic Coke glasses every year,” said McDonald’s Philippines president and chief executive officer Kenneth Yang.

Milk drink for pre-schoolers

Want to make sure that your pre-schooler is getting all the nutrients he or she needs? Promil is offering in the Philippines a powdered milk drink designed with the little ones in mind.

Aptly called Promil Pre-school, the product is formulated with “nutrissentials” or high-quality foundation nutrients such as unsaturated fats from plant-based oil, carbohydrates with lactose and whey protein, as well as DHA Omega-3, AA Omega-6 and lutein for brain development and healthy vision.

Promil Pre-school is available in stores nationwide.

source: www.abs-cbnnews.com

Coca-Cola buys Brazil's Spaipa for $1.855-B

MEXICO CITY - Mexico's Coca-Cola FEMSA, the largest Coke bottler in the world, announced Saturday it has acquired Spaipa of Brazil in a $1.855 billion deal.

The all-cash transaction will increase Coca-Cola FEMSA's volume by 40 percent in Brazil.

Although it has been approved by Coca-Cola FEMSA's board of directors, the deal is still subject to the approval of Brazil's antitrust authority. Coca-Cola FEMSA will also try to obtain the approval of The Coca-Cola company.

From June 2012 to June 2013, Spaipa sold 233.3 million cases of beverages, including beer, for $905 million in net revenue.

"We continue to create a robust platform in Brazil with the acquisition of the second largest privately owned bottler in the system, operating in one of the regions with the highest GDP per capita in the country," Coca-Cola FEMSA chief executive Carlos Salazar Lomelin said in a statement.

"We are privileged to serve as many consumers in Brazil as we do in Mexico, and our company will benefit from the talented and experienced employees of the Spaipa franchise."

The deal comes on the heels of Coca-Cola FEMSA's purchase of Brazilian Coke bottler Companhia Fluminense de Refrigerantes for $448 million.

Coca-Cola FEMSA produces and distributes Coca-Cola, Fanta, Sprite, Del Valle and other beverages from The Coca-Cola Company in Argentina, Brazil, Colombia, Costa Rica, Guatemala ,Mexico, Nicaragua, Panama, the Philippines and Venezuela.

The company has 63 bottling facilities and serves more than 321 million consumers through 2,700,000 retailers with more than 100,000 employees worldwide.

source: www.abs-cbnnews.com

Mexico's Coca-Cola hopes to finalize PH acquisition by year-end

MEXICO CITY - Mexico's Coca-Cola Femsa said on Wednesday that if its planned acquisition of a controlling stake in Coca-Cola Co operations in Philippines succeeds it will open the doors to other markets in Asia.

The company, a joint venture of Coca-Cola Co and Mexico's Femsa, added that while there are limited purchase chances left in Latin America, it will continue to tread the region for opportunities.

Coca-Cola Femsa , Latin America's biggest coke bottler, said third-quarter profit jumped 53 percent on recent acquisitions and it hoped to decide on another purchase in the Philippines by year-end.

The company said earnings increased to 3.54 billion pesos ($276 million) from 2.31 billion pesos a year earlier.




The results beat market expectations. Analysts polled by Reuters were looking for earnings of 3.15 billion pesos. Revenue jumped 20 percent to 36.19 billion pesos, helped by the integration of Mexican rivals Grupo Tampico, Grupo CIMSA and Grupo Fomento Queretano, the company said. About 1,000 people have been laid off as a result of these transactions so far this year and more headcount reduction could take place in the current quarter, the company said.

Philippines deal

The company, which is in talks to buy a controlling stake in Coca-Cola Co operations in the Philippines, said it expected a decision on the deal by year-end.
"We think it has a very good potential ... we are finalizing negotiations with Coca-Cola Co. As they say in baseball, it's not over till it's over," the company said during a conference call with analysts Wednesday morning.

This deal could mean the beginning of more activity in Asia for the Mexican company although it did not give details about a possible next target.

Coca-Cola Femsa added during the call that while there were limited purchase chances left in Latin America, it would continue to tread the region for more opportunities.

The company operates in Mexico, Central America, Colombia, Venezuela, Brazil and Argentina.
Analysts have said acquisitions combined with more-stable prices of raw materials have greatly helped the company's results in recent quarters.

"After facing a very tough commodity and volatile currency environment over the past several quarters, we look forward to a strong close of the year," said Carlos Salazar, chief executive officer.

Coca-Cola Femsa shares, up 29 percent so far this year, rose 0.34 percent to 172.26 pesos on Wednesday.

 source: abs-cbnnews.com