Coca-Cola Co on Tuesday forecast a significant hit to current-quarter results as restaurants, theaters and other venues that represent about half of the company's revenue remain closed because of the coronavirus pandemic.
FILE PHOTO: Coca-Cola bottles are pictured in Lagos, Nigeria November 5, 2019. REUTERS/Temilade Adelaja
The rapid spread of the novel coronavirus, which was first detected in the Chinese city of Wuhan last December, has claimed the lives of nearly 170,000 across the globe and has forced restaurants, grocers, sports arenas and entertainment venues to shut doors. The Atlanta-based beverage maker, which last month said it would not be able to reach this year’s financial goals, now expects current-quarter comparable revenue to include a 4% to 5% hit from a stronger dollar.
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