coca-cola bottling -cl b (COKEB) Key Developments
Coca-Cola Bottling Co. Consolidated Leases Charlotte Building for Call Center
Jul 7 15
Coca-Cola Bottling Co. Consolidated has leased a 71,280-square-foot industrial building in north Charlotte for its call-center group and plans to relocate 160 employees there this fall and add 140 more workers at the facility over time. Coke Consolidated expects to close on the transactions for the new territories in the fall. Coke Consolidated had run out of space for call-center operations at its corporate headquarters in SouthPark and plans to move 160 employees into the Harris II building at 5020 W. W.T. Harris Blvd. in October, after renovations are complete. The company expects to create 140 more jobs at the facility over the next two to three years.
Coca-Cola Bottling Co. Announces Distribution Agreement with the Coca-Cola Co
May 14 15
Coca-Cola Bottling Co. announced a nonbinding letter of intent it has signed with The Coca-Cola Co. to gain exclusive distribution rights in major markets such as Baltimore, Cincinnati, Washington, D.C., and Richmond, Va. Other territories in Delaware, Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia are on the table as well. Those areas are currently served by Coca-Cola Refreshments USA Inc. If a definitive agreement can be hammered out between the companies, Coke Consolidated could begin closing the transactions as early as this fall.
Coca-Cola Bottling to Enter New Markets in 10 States and DC
May 13 15
Coca-Cola Bottling Consolidated announced that it has signed a letter of intent to expand its franchise territory to new markets in 10 states and Washington D.C. The bottler announced it has signed a non-binding letter with the Coca-Cola Co. for exclusive distribution rights in territories that include Baltimore, Maryland, and the Virginia cities of Alexandria, Norfolk and Richmond. Other regions included in the plan are territories located within Delaware, Washington D.C., Illinois, Indiana, Kentucky, North Carolina, Ohio, Pennsylvania and West Virginia. The company recently completed an expansion of its franchise territory to parts of Tennessee, Kentucky and Indiana. The bottler added about 200 locally and now has about 2,000 Charlotte-based employees. The bottler added about 200 locally and now has about 2,000 Charlotte-based employees, according to the company. If an agreement is reached, the new expansions will begin this fall.
Coca-Cola Bottling Co. Consolidated Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 5 15
Coca-Cola Bottling Co. Consolidated announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company announced net sales of $453,253,000 compared to $388,582,000 for the same period a year ago. Income from operations was $16,902,000 compared to $12,116,000 for the same period a year ago. Income before income taxes was $4,466,000 compared to $4,893,000 for the same period a year ago. Net income was $2,953,000 compared to $3,101,000 for the same period a year ago. Net income attributable to the company was $2,224,000 or $0.24 per basic and diluted common stock compared to $2,449,000 or $0.26 per basic and diluted common stock for the same period a year ago. Diluted net income per Class B Common Stock was $0.23 compared to $0.26 for the same period a year ago. This revenue growth was driven by favorable product mix and overall pricing, and, coupled with a favorable cost of goods environment, the company’s comparable gross margin grew approximately 5%.
Coca-Cola Bottling Co. Consolidated Announces Closing of Transactions to Expand and Exchange Franchise Territories
May 1 15
Coca-Cola Bottling Co. Consolidated announced that it has closed its previously disclosed agreements with an affiliate of The Coca-Cola Company, Coca-Cola Refreshments USA Inc. (CCR), to expand the bottler’s franchise territory to include Paducah and Pikeville, KY and to exchange the bottler’s franchise territory in Jackson, TN for territory previously served by CCR in Lexington, KY.