Pepsi price fight hurts Coca-Cola

Coca-Cola Amatil has added its name to a growing list of supermarket suppliers to feel the earnings pinch of a relentless price war waging across the aisles, posting a 12.3 per cent slide in interim profits that will also spill into weaker full-year results.
It’s flagship Australian beverage operation, which contributes 60 per cent of group revenue and 70 per cent of pre-tax earnings, suffered from a discount war with new brand entrant Pepsi Next, made worse by lower retailer inventory levels for its soft drinks, energy drinks and bottled water.  Sydney Morning Herald – Read more…