Coca-Cola is our top pick for 2000 as global gets good again. |
Direct sellers tend to be globally diverse. They aren't typically leveraged to the U.S. consumer, which has been spotty lately. |
Going to Target was a big misstep because direct sales are key to its distribution system. |
Tropicana is a great grocery brand. Tropicana is already showing growth, so PepsiCo is buying a company with momentum. |
We continue to be concerned with the recent pattern of (the company's) estimate reductions, sales sluggishness in the core personal-care division, increasing margin pressures and deteriorating working capital trends. |
We're seeing volumes start to increase, and the sticker shock from its higher pricing has begun to wear off. The question is how quickly can the company return to 7-8 percent case volume growth and 15-20 percent [earnings per share] growth. |
While the strong showing at the retail stores and particularly consumer direct was impressive ... margins overall continue under pressure and working capital trends appear to be deteriorating. |