Bottler Coca Cola HBC’s April sales lose fizz as lockdowns weigh

Bottler Coca Cola HBC’s April sales lose fizz as lockdowns weigh

May 13, 2020 Off By longcatlabs

Soft drinks bottler Coca Cola HBC AG (CCH.L) 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 (KO.N), 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). (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.