Blog: CAGNY clouds hang over the Sunshine State
Olly Wehring | 18 February 2009
In normal times, a trip to Florida would be something to savour. But, as we are constantly told, these are anything but normal times.
This week, hundreds of senior US drinks industry executives and analysts are in the Sunshine State for what is likely to be a tense four-day conference discussing just what impact the recession is having on our sector.
The Consumer Analyst Group of New York (CAGNY) conference is one of the biggest dates in the US drinks industry calendar. This year, from 17-20 February, top execs from drinks giants including Diageo, SABMiller and The Coca-Cola Company – to name a few - have headed to Florida to provide an update on how their businesses are navigating the downturn - and how they aim to withstand the recession.
Central to discussions at the forum this week will be the state of consumer confidence and the pressures on the bottom line. With commodity and energy costs sliding slightly in recent months, will A&P get the boost required to ride this storm? Or is the need for profit rises paramount?
This week's forecast from the Sunshine State is likely to show some black clouds on the horizon. Keep your eyes on just-drinks for news on just how bad the forecast is.
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