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Coca-Cola withdraws from Tab as it trims its portfolio

Cans diet cola Loss sodas produced by the Coca-Cola Company appear in a supermarket in the Brooklyn district of New York, July 26, 2011.

Ramin Talaie | Corbis Historical | Getty Images

Coca-Cola said Friday that Tab, its first diet soda, is among the beverages on the way to retirement as it trims its beverage portfolio.

The coronavirus pandemic has accelerated the transition to the beverage giant to focus on its larger and more popular brands, such as its name soda soda. Coke has also recently announced a restructuring plan to help it become more efficient and scale new products faster. The global pandemic led to a 33% drop in Cole̵

7;s earnings in the second quarter, but CEO James Quincey, who has led the company since 2017, has said it is trying to come out stronger than the crisis than before.

Other beverages that go out of production by the end of the year include Odwalla products, Zico coconut water, stevia-sweetened Coca-Cola Life and Diet Coke Feisty Cherry. Regional beverages like Northern Neck Ginger Ale and Delaware Punch are also planned to disappear.

“It’s about continuing to follow the consumer and being very intent on deciding which of our brands deserves our investment and resources the most, and also taking the tough but important steps to identify the products that are losing relevance and therefore should leave the portfolio, ”Cath Coetzer, Cole’s global head of innovation and marketing, said in a statement.

Coke first introduced Loss to Consumers in 1963 and aimed the zero-calorie beverage at women. In the 1970s and 1980s, when Americans tried fad diets, diet sodas became more popular but faded when Diet Coke was introduced in 1982. The company said Tab has maintained a “small but loyal” number of fans in the last decades.

More than half a century after Tabs ‘launch, Coke is betting on Diet Coke and Coke Zero Sugar to meet consumers’ cravings for low-calorie, sugar-free soft drinks.

Coke is expected to report its earnings in the third quarter on Thursday. The shares of the company, which has a market value of $ 216 billion, have fallen 9% so far this year.

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