New Coke is back

Coca-Cola (KO) will offer a limited edition of its of New Coke cans beginning May 23 as part of its partnership with Netflix’s (NFLX) show Stranger Things. Season 3 of Stranger Things will start streaming on Netflix on July 4 and prominently feature New Coke throughout the season.

Netflix had contacted Coca-Cola’s North American marketing team last year and suggested it wanted to collaborate with Coca-Cola to bring back New Coke since the third season of Stranger Things was set in the summer of 1985, when New Coke originally launched. Back then, New Coke failed to strike a chord with consumers, and it was considered a major failure. Coca-Cola pulled New Coke from the market within just three months of its launch and brought back its previous formula.

Coca-Cola’s partnership with Netflix gives it a way to reach consumers on non-advertising platforms like Netflix. For Netflix, the partnership should help it leverage Coca-Cola’s strong brand name.

Coca-Cola Brings Back New Coke for Stranger Things

Efforts to revive volumes

Coca-Cola is investing heavily in marketing and innovation to boost volumes, especially for carbonated beverages. Consumers’ growing aversion to sugary soda beverages has been hurting Coca-Cola’s volumes. The company has been innovating low- or no-calorie versions and smaller packages of its soda drinks to improve its soda volumes.

Coca-Cola has also been expanding its portfolio of noncarbonated beverages to cater to consumers’ desire for healthier options. Last year, the company acquired the Costa coffee company for $4.9 billion to capture growth prospects in the global hot beverages market. Coca-Cola has also made several bolt-on acquisitions in growth categories like functional beverages.

In the first quarter of 2019, Coca-Cola’s revenue grew 5.2% to $8.02 billion, and its unit case volume increased 2% on a year-over-year basis.

Latest articles

Today, Canopy Growth announced that it acquired the Saskatchewan-based KeyLeaf Life Sciences along with entities relating to the company and its intellectual property. Here's what you need to know about the completed deal.

Yesterday, Tyson Foods (TSN) and fellow meat producers Pilgrim’s Pride (PPC) and Sanderson Farms (SAFM) took a hit to their stocks after news came out about an investigation over price-fixing allegations.

On June 24, RH (RH) was trading at $115.01, implying a rise of 21.2% since its announcement of its first-quarter earnings results on June 12. Despite the surge in its stock price, the company is still trading at a discount of 29.1% to its 52-week high.

26 Jun

Roku Stock Fell Close to 7.0% Yesterday

WRITTEN BY Aditya Raghunath

Roku stock fell 6.8% yesterday to close trading at $93.25 per share. Roku stock has lost over 9.0% in market value in the last two trading days. Prior to this pullback, Roku stock was up a whopping 235.0% year-to-date.

26 Jun

Beyond Meat Stock Up Today on New Product Launch

WRITTEN BY Rajiv Nanjapla

Today, Beyond Meat (BYND) announced that its new product, Beyond Beef, will hit markets across the US later this week.

FedEx (FDX) ended fiscal 2019 on a dismal note and reported a significant YoY decline in fourth-quarter earnings. The delivery giant posted adjusted EPS of $5.01, which was 15.2% lower than the year-ago quarter’s earnings of $5.91. The company cited sluggish revenue growth and increased expenses as the main reason behind the dismal bottom-line performance.

172.31.38.64