Coca-Cola Sees 25% Volume Slump as On-the-Go Drink Occasions Plummet
Coca-Cola (NYSE: KO) is starting to feel the pinch from the COVID-19 pandemic. In an earnings report released Tuesday, the beverage giant reported solid first-quarter sales and earnings results that mostly met management's expectations. But trends significantly worsened from there as stay-at-home mandates removed entertainment outings like concerts and sporting events from its sales base in late March and April.
CEO James Quincey and his team stressed that short-term trends will shift wildly depending on the path of the virus and the timing of the economic rebound, but the company warned that the impact on the current quarter will be significant with volume down 25% so far in April.
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Source Fool.com
