retail news in context, analysis with attitude

The Boston Globe reports that Coca-Cola CFO Gary Fayard told an analysts meeting this week that while the soft drink industry needs to fight the imposition of soda taxes by the government because it will hurt profits, people will continue to buy soda even if the prices go up because of taxation.

"We're an easy target as an industry, and this is one where we're all going to have to pull together and work diligently because it's a threat," Fayard said at a conference held by trade publication Beverage Digest.

Fayard also noted that the soft drink industry “has been cutting calories to help fight obesity,” and that “45 percent of the Coca-Cola brand's business is now from diet drinks, which would not be subject to soda taxes.”
KC's View: