Coca-Cola Europacific Partners cuts annual sales forecast on weak Europe demand
Coca-Cola Europacific Partners , a bottling unit of Coca-Cola , lowered its annual sales forecast on Tuesday in response to reduced demand for beverages in Europe, as well as weakness in Indonesia linked to the Middle East conflict.
They view sugary Coke and Dr Pepper, or newer sugar-free sodas like Coke Zero, as a more affordable treat than other choices like an energy drink, flavored tea, a bag of chips or a candy bar.
The company still beat Wall Street's forecasts and said it expects full-year organic revenue to rise 10 percent.
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