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Coca-Cola Sees Some Financial Improvement In 2nd Quarter

July 21, 2020: 12:00 AM EST
After a “most challenging” first quarter marked by a 28 percent pandemic-caused sales decline, Coca-Cola said second quarter soda demand improved, a fact reflected in adjusted revenue of $7.18 billion, largely in line with analyst estimates. Demand for Coca-Cola drinks was battered by the closings of restaurants, theaters, and sports venues. Unit case volume trends, a key demand indicator, improved from a 25 percent drop in April to a 10 percent drop in June as lockdowns eased. For the June quarter, volume sales declined 16 percent, with flagship Coca-Cola falling seven percent and sparkling soft drinks dropping 12 percent. Unit volume of teas and coffees slid 31 percent, largely because of the temporary closure of Costa Coffee stores in Western Europe.[Image Credit: © The Coca-Cola Company]
"Coca-Cola Signals Recovery After 'Most Challenging' Quarter", The New York Times , July 21, 2020, © Thomson Reuters/The New York Times Company
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