WRAPUP 3-Coke, Pepsi bottlers see sales fall, shares drop

* Coca-Cola Enterprises Q3 EPS $0.51 vs Street view $0.46

* PepsiAmericas Q3 EPS $0.59 vs Street view $0.62

* Coke Enterprises raises '09 view, PepsiAmericas lowers

* Sales fall at both companies, missing expectations

* CCE shares fall 3.5 pct, PepsiAmericas down 0.5 pct (Adds company comments, updates stock activity)

By Jessica Wohl

CHICAGO, Oct 28 (Reuters) - Coca-Cola Enterprises Inc (CCE.N) and PepsiAmericas Inc (PAS.N) sold fewer soft drinks in the United States than analysts anticipated, signaling that consumers remain cautious about spending, and shares in both bottlers fell.

Coke Enterprises managed to increase profit more than expected and raised its 2009 earnings forecast [ID:nN28500645]. However, its forecast suggests that fourth-quarter profit will fall short of analysts' current views.

PepsiAmericas' lower profit fell short of analysts' expectations and the smaller bottler cut its outlook [ID:nBNG205357].

The companies, which bottle and distribute soft drinks, have tried to protect profits as consumers avoid higher-priced drinks, like bottled teas, and cut back on dining out.

"We'd like to think consumer confidence is going to come back and frankly, I don't know about that," Coke Enterprises Chief Executive John Brock said on a conference call.

PepsiAmericas, which is being acquired by PepsiCo Inc (PEP.N), said it expects sales pressure to persist for the rest of 2009. PepsiCo is set to buy the 57 percent or so of PepsiAmericas that it does not already own.

Shares of Coke Enterprises skidded 3.5 percent to $19.32, while PepsiAmericas slipped 0.5 percent to $29.28.

Meanwhile, Mexico's FEMSA (FMSAUBD.MX) posted a 25 percent jump in profit, driven by strong results from its Coca-Cola FEMSA (KOFL.MX) soft-drink bottling affiliate [ID:nN28297558].

NORTH AMERICA VOLUMES DROP

Coke Enterprises, the largest bottler of Coca-Cola Co (KO.N) drinks, said sales by volume fell 6.5 percent, after declining 1 percent in the second quarter and 0.5 percent in the first quarter.