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Coca-Cola forecasts full-year profit below expectations

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(Reuters) - Coca-Cola Co forecast full-year profit well below Wall Street expectations on Thursday as it reported a quarterly decline in volumes in North America, sending its shares down 3 percent.Food packaging companies are facing the brunt of rising freight and commodity costs and a dearth of truck drivers, leading to squeezed margins and higher costs.To counter these costs, Coke raised prices of its beverages but that came at the expense of falling demand. Volumes, a key indicator of demand, fell 1 percent in North America.The company forecast full-year profit to be between $2.06 and ...

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First Published: Thu, February 14 2019. 18:14 IST