Bottler Coca Cola HBC's April sales lose fizz as lockdowns weigh
Reuters
Published May 07, 2020 02:43AM ET
(Reuters) - Soft drinks bottler Coca Cola HBC AG (L:CCH) on Thursday said sales in April fell by more than a third as fast-food chains, theatres and other public arenas stayed shut to limit the spread of the new coronavirus during stay-at-home orders.
The company, a bottler for U.S.-based beverage firm Coca-Cola (N:KO), said net sales revenue for April slumped 37.2% on a constant currency basis, with first-quarter sales slipping 1.2% to 1.41 billion euros ($1.52 billion). (https://reut.rs/35Ec6pQ)
"After a strong start to 2020, March and especially April have been more difficult ... The strong performance in January and February ensured that we entered this crisis from a position of real strength," Chief Executive Officer Zoran Bogdanovi said.
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Written By: Reuters
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