Word: pepsi
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Dates: during 1930-1939
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...suit was against its onetime president, jut-jawed Charles Godfrey Guth, who in 1931 had bought for his own account a controlling interest in, Pepsi-Cola Co., a puny contender in the soft-drink market (annual sales about $33,000). By whirlwind promotion, including sales in Loft...
...stores, President Guth fizzed up its sales until by the end of 1935 he was able to report a net for the year of $464,000. Loft filed suit for his 237,500 shares (91%) of Pepsi-Cola stock, contending that it had been bought with Loft money, developed with Loft resources...
Last year, Delaware's Court of Chancery finally decided that Pepsi-Cola belonged to Loft, not to Mr. Guth. Then Phoenix' president, 43-year-old Walter S. Mack Jr., a director of Loft, became president of Pepsi-Cola Co. When he looked into the books which Mr. Guth had previously kept well hidden, he found a thriving business. For the first nine months of 1938 Pepsi-Cola had turned in a net profit of $2,700,000; its stock was selling at $70 a share (it is now $190). (For the same period Loft lost...
...Meantime Pepsi-Cola had become the No. 2 cola drink of the U. S. (next to Coca-Cola). For the first six months of 1939 Pepsi-Cola had turned a net profit of $2,500,000, an increase of 76% over its booming 1938 figures. Last week President Mack ventured to say that for the first eight months of this year net profits would pass record 1938 (when the net was $3,240,000). Still selling far below big Coca's bottle volume (the trade's best guess: 18-25% of it), Pepsi-Cola's twelve-ounce...
...take some of the profit out of Pepsi-Cola by boosting the price of sugar (considerably more of it goes into its double-sized bottle than into a bottle of Coca-Cola). But it will have to be a long war. Last month, with a year's supply on hand or under contract, Pepsi-Cola extended its war hedge, contracted for a full three-year supply. Meanwhile, there has been no indication that Loft's restaurant chain has ceased to lose money. But, with Loft stock selling as high as 16 5/8 even in last week...