Coca-Cola sales drop by 20% in April

The company noted that in the first two months its revenue grew by 3% (excluding China). However, in March, the company began to feel the effects of the pandemic, quarantine measures, the closure of catering establishments and lower consumer spending. Therefore, Coca-Cola warned that the effects of quarantine could significantly affect its results for the second quarter.

In addition, the company noted that “since the beginning of April, global sales have declined by 25%.” At the same time, Coca-Cola emphasizes that it is currently difficult to predict what the impact of the pandemic will be in the second quarter: it will depend on how long the quarantine measures in the USA and other countries last.

source: bloomberg.com