Coca Cola Bottling Co. Consolidated, Charlotte, N.C., reported operating results for the fourth quarter and fiscal year ending Dec. 31, 2017.
Frank Harrison, chairman and chief executive officer, said: “2017 was once again a year of transformation. We met the substantial challenges head-on and delivered solid results despite challenging industry conditions and other headwinds. We deeply appreciate our teammates’ hard work. 2018 will be a year of continued integration of our expanded business platform — seeking to drive growth, efficiency and continuous improvement — and engaging our Purpose with intentional leadership and meaningful teamwork.”
Consolidated net sales increased $284.6 million, or 33.8 percent, to $1.13 billion in the fourth quarter of 2017, compared with $841.6 million in the fourth quarter of 2016. The increase in net sales in the fourth quarter was primarily driven by acquisitions and an increase in comparable net sales of 6.7 percent. The increase in comparable net sales in the fourth quarter of 2017 was driven by an increase in comparable equivalent unit case volume of 1.5 percent.
Consolidated net sales increased $1.16 billion, or 37 percent, to $4.32 billion in fiscal 2017, compared with $3.16 billion in fiscal 2016. The increase in net sales in fiscal 2017 was primarily driven by acquisitions and an increase in comparable net sales of 3.1 percent. The increase in comparable net sales in fiscal 2017 was driven by an increase in comparable equivalent unit case volume of 1.6 percent. BI