Remember those classic contour glass refillable Coca-Cola Co (NYSE: KO) bottles? Well, they’re coming back. The company announced that curvy containers will be available in several emerging countries.
What happened: With consumers around the world feeling the impact of inflation, Coca-Cola is looking for ways to cut costs on its beverages by Return to cheaper refillable glass bottles. This is in light of the skyrocketing prices of many commodities, including aluminum.
The returnable glass bottles are now available Hong KongSouth America, Africa and Europe. According to Reuters, Coca-Cola is also testing the use of the bottles in the Southwest U.S.
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Environmental Impact:The move is also environmentally-friendly as it allows consumers to return the bottles for resale. The bottles will use 60% recycled glass materials and be a third lighter than previous bottles, making them easier to hold.
The company says the transparent bottles will be convenient to return and a bottling plant will then clean, disinfect and refill the bottles. The market will then relaunch the repackaged beverages with new labels.
Coca-Cola reported Monday a 16% increase in net revenue year-over-year to $10.49Billion. This beats the consensus of $9.83B. The revenue performance included an 11% increase in concentrate sales and a 7 percent growth in price/mix.
Price Action Coca-Cola shares were trading 0.41% higher on Monday afternoon at $65.30, according to Benzinga Pro.
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