[Resolved]  Coca - Cola Hit By Consumer Resistance — Coca-Cola's third-quarter profit inched higher, though sales fell as consumers continued to limit soft drink purchases.

Coca-Cola's third-quarter profit inched higher, though sales fell as consumers continued to limit soft drink purchases and the stronger dollar took a toll on revenue.The world's biggest beverage maker said it earned US$1.896 billion, or 81 cents per share, compared with $1.890 billion, a year earlier. Results included a US1c restructuring charge.Atlanta-based Coca-Cola said revenue slumped to US$8.04 billion from US$8.39 billion. Foreign currency exchange dragged down revenue by 6 per cent.Analysts forecast profit o[censored]S81cps on revenue o[censored]S$8.11 billion. Shares of Coca-Cola fell US$1.1 to US$53.65.Worldwide case volume - the amount of product shipped - grew 2 per cent in the quarter but in North America, case volume fell 4 per cent.The maker of Coke and Sprite has been navigating a market where consumers have been cutting back on soft drinks amid the recession and increasingly seeking out juices and teas, rather than soft drinks.Coca-Cola said unit case volume for soda fell 5 per cent in North America in the quarter, while volume of still beverages, including teas and juices, was even.Sales rose in emerging markets including India, China and Brazil.Total international case volume rose 4 per cent, which includes 37 per cent growth in India and 15 per cent in China, where the company has announced a US$2 billion investment, along with its bottlers, in the next three years.CEO Muhtar Kent said consumers around the world were hurting financially, which affects their spending on everything, including drinks.Though there have been signs that recovery is under way, that doesn't mean consumers will be quick to boost their spending again."I still believe the US is still going to pull the general consumer sentiment up in the world," he said on a conference call."The US consumers' resiliency we'll probably see that happening, but I just don't have an idea about the timing."The effect of foreign currency continued to drag down results in the quarter.Coca-Cola said that a US dollar still strong relative to last year's third quarter hurt earnings per share, because about 85 per cent of profit comes from sales overseas.A strong dollar dampens foreign sales for US companies.