Key Takeaways:
- Coca-Cola is closing a unique clothing store in London only 8 months after opening its doors.
- The soft drink company offered rare items not available in typical department stores.
- The stock price is expected to go to the upside after a year without much drama. YTD price is down only 5.63%.
WISCONSIN (CoinChapter.com) — Soft drink giant Coca Cola announced they would be closing their London flagship store in December.
The company opened a high-end store only months ago, in April, as an attempt to offer the public specialty branded merchandise and a bar with various flavors of the famous soda.
When the store opened, the concept was unique for the world’s most valuable soft drink brand.
Coke t-shirts, key chains, and magnets have been widely available for decades. But for the store in London, the uniqueness of agreements with Soho Grit, Lee Denim, Daniel Fletcher, and more was thought to give Coke a different kind of niche in sales.
The store also had a one-of-a-kind area where customers could design their own Coke cans, which could be drunk or saved as collectibles.
A key reason for opening the store in the first place was to give brand awareness to the world with how serious they are about sustainability commitments. For example, Coca-Cola has a collection of products made from recycled plastic to enhance its World Without Waste program.
The London store idea originated from previous successful start-ups in the United States. At this point, the public does not know exactly why Coca-Cola decided to close the location – company officials have not released specific details.
Coca-Cola Stock
Long-term investors have not lost much money this year as shares are down only 5.63%; they do, though, desire a little more for their time and effort.
Stock price forecasts for Coca-Cola (NYSE: KO) are quite favorable, with an expected high/low range of $76-$59 and a median of $65.50.
Last week the Board of Directors announced three new corporate officers and a dividend of 44 cents per share to be paid out on Dec. 15.
The company will report third-quarter earnings before the opening bell on Oct. 25. Estimates are calling for revenues of $10.6 billion, which equals 5.6% growth from last year’s quarter. On the other hand, despite growth, expectations are for a 2% decrease in earnings-per-share to 64 cents.
