Volume grew 3% in developing and emerging markets, with China (+12%) and Brazil (+4%) both accelerating sequentially due to strong marketing campaigns centered around holiday programming and the FIFA World Cup™ as well as a systemwide focus on execution. Volume in developed markets was down 1%, impacted by the shift in the Easter holiday from the first quarter last year to the second quarter this year. However, volume increased in certain key developed markets, including Japan (+3%) and Australia (+1%), while volume in North America was even.
Chairman and CEO Muhtar Kent said, “While we are making meaningful progress across our five strategic priorities to restore our momentum, we are firmly committed to further advancing our growth trajectory through 2014 as we are accelerating marketing investments in our brands and focusing relentlessly on marketplace execution in partnership with our bottling partners around the world.”