Reported 20 days ago
Coca-Cola Europacific Partners has reduced its annual sales forecast due to declining beverage demand in Europe and a boycott affecting Indonesia linked to the ongoing Middle East conflict. Despite stable demand for sodas, cautious spending by lower-income consumers has led to a 1.4% decline in beverage volumes in Europe during the third quarter. The company anticipates a growth rate adjustment for comparable annual revenue from 4% down to approximately 3.5% while experiencing a 2.4% increase in adjusted revenue for the third quarter.
Source: YAHOO