STORY: Coca-Cola is rethinking how to make its drinks more affordable, as the beverage giant sees some of its customers are struggling with rising costs.
That's what Coca-Cola's CFO John Murphy told a Deutsche Bank consumer conference in Paris on Thursday.
Murphy said the company, which raised its annual profit target in April, was navigating the disruption from the U.S.-Israeli war on Iran quote, "not perfectly well, but without fear, without trepidation."
He called the outlook in the Middle East "still not clear," and added it would be a focal point as the company goes into next year.
:: Coca-Cola
Coca-Cola is leaning on a mix of pack sizes, formats and price points, from smaller, lower-cost, single-serve options to larger and premium offerings, to cater to a wider range of consumers while keeping prices affordable for budget-conscious shoppers.
Recent earnings from major U.S. retailers suggest consumers remain resilient but are spending more selectively.
Rising gas prices linked to the Iran war and persistent inflation are weighing on budgets.
Murphy said some consumers are resilient while others aren't, and pointed to those earning $50,000 - $60,000 as being under particular strain.
Shares of Coca-Cola were little changed in Thursday morning trading, but have risen about 13% so far this year, slightly better than the S&P 500.
