Despite reporting a 28% decline in its second quarter—the largest decline in quarterly revenue The Coca-Cola Company has witnessed in 30 years—it also witnessed considerable improvement in global sales volume as lockdown eased.
Coca-Cola announced that it would be discontinuing its Odwalla juice and smoothie brand, and dissolving its chilled delivery network at the end of July. In a statement to FoodBev, the company said it made the decision in light of a “rapidly shifting marketplace and despite every effort to support continued production and delivery services”. In January, the multinational beverage corporation also agreed to fully acquire dairy beverage brand Fairlife, purchasing the remaining 57.5% stake from joint venture partner Select Milk Producers.
As part of its sustainability efforts, the company revealed its plans to invest €1 billion in France over the next five years to help meet its development goals in the country. In addition, Coca-Cola successfully unveiled its first sample bottles made using recovered and recycled marine plastics, through a partnership with Ioniqa Technologies, Indorama Ventures and Mares Circulares (Circular Seas).
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James Quincey, Chairman and CEO
Brian Smith, President and COO
John Murphy, Executive VP and CFO
Nancy Quan, Senior VP and CTO
Manuel Arroyo, Chief Marketing Officer and Group President, Asia Pacific