Coca-Cola Sells A Quarter Less Soda Due to Coronavirus Measures
Since the beginning of April, Coca-Cola has been selling a quarter less soft drinks worldwide due to measures against the coronavirus, such as the closure of catering establishments.
The US company, therefore, expects the crisis to have a significant impact on the second-quarter results.
Coca-Cola says the drop in sales volume is almost entirely due to less consumption outside the home, such as in cafes and restaurants. Those sales account for about half of the company’s sales.
The soft drink producer hopes that there will be an improvement in the second half of this year. The final consequences for the whole of this year are currently difficult to estimate.
In the first quarter of this year, Coca-Cola’s revenue decreased 1 percent to $ 8.6 billion from a year earlier.
This was due to weaker sales in China under pressure from the coronavirus outbreak in that country. Net profit was nearly $ 2.8 billion.