Soft drink giant Coca-Cola, Co (NYSE: KO) is another staple of the old normal that struggles to co-exist with COVID-19. Closures at restaurants and bars have significantly cut its sales. But the biggest challenge for the brand has been the shuttering of many public venues — theaters, stadiums, and sporting events — that the company’s profits rely on.
Restaurants, bars, and movie theaters make up around 50% of Coca-Cola’s sales, according to Barron’s. By the end of the second quarter, revenues for the company were down 28% from where they were a year ago, according to Fox Business.
Shortages of necessary supplies due to the pandemic caused additional struggles for the company.
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