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Coca-Cola sales drop 28% amid coronavirus pandemic

Jul 22, 2020 15:05 IST

Coca-Cola’s global sales dropped 28% in the second quarter, the company shared on Tuesday. The soft drink giant said that the coronavirus lockdowns have affected its consumption at restaurants, bars and movie theaters. These venues account for roughly half of Coke’s revenues, but they have been shut around the world to control the spread of Covid-19. The Atlanta-based conglomerate expects sales to improve through the rest of the year as lockdown restrictions are eased. The number of cases of drinks sold by Coke and its bottling partners was down about 10% in June, a marked improvement from April’s 25% decline, the company said.