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COVID-19 Bashes Coca-Cola Global Sales Volumes

April 21, 2020: 12:00 AM EST
Coca-Cola reported flat first quarter revenues as global sales volumes slid 25 percent this month due to COVID-19 disruption. Q1 revenues were $8.6 billion, one percent less than the same period last year. Operating income declined by two percent to $2.38 billion. Unit case volumes of sparkling soft drinks declined two percent in the quarter, while juice, dairy and plant-based beverages were down six percent and tea and coffee volume declined six percent. The company said that volume at the end of February was growing by three percent – excluding China – and was on track to achieve its full-year 2020 targets. But disruption due to COVID-19 in global markets from March significantly impacted sales, as social distancing measures and quarantine orders were put in place by governments around the world.  The company expects continued reduction in away-from-home activity will have a “significant impact on second-quarter results.”[Image Credit: © THE COCA-COLA COMPANY]
Martin White, "Coca-Cola sales volume declines 25 percent in April due to COVID-19 impact", FoodBev Media , April 21, 2020, © FoodBev Media Ltd
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