Coke reported earnings yesterday.
- The good news: Revenue jumped 16% to $10.5B, buoyed by renewed consumer demand at places like stadiums and restaurants.
- The bad news: It’s unclear if that’ll last.
Costs were a challenge, rising 17% YoY. Aluminum, plastic, sugar, and shipping crates — fairly important staples in Coke’s pantry — have all shot up in price over the pandemic.
Coke accounted for that by charging more, but CEO James Quincey told CNBC that people won’t just “swallow inflation endlessly.” Translation: At some point, people will look at the price of a Coke and say, “yeah… no.”
Unrelated, but related: The Coca-Cola Company bought Columbia Pictures in 1982. Under Coke’s ownership, the studio made hits like Ghostbusters and The Karate Kid, but it eventually spun off and sold to Sony in 1989.
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Food
