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CCEP Q1 Revenue Declines Four Percent

April 28, 2020: 12:00 AM EST
Coca-Cola European Partners plc (CCEP) reported that FY 2020 first quarter revenue slid four percent from a year ago to $2.7 million. Challenging comparables, some customer disruption due to a planned pricing strategy, and the initial impact of the COVID-19 pandemic all played a part in driving comparable volumes for the period down four percent. Revenue per unit case increased 1.5 percent, thanks to favorable price and promotions offset by negative channel and pack mix. The company is reducing discretionary spending in trade marketing, promotions, merchandising, incentives, seasonal labor, travel, and meetings, representing a potential fiscal year cost reduction of $218 million to $272 million. CCEP is also delaying some discretionary capital expenditure, resulting in a 2020 capex of about $381 million.[Image Credit: © The Coca-Cola Company]
"Coca-Cola European Partners Q1 Revenue Down 4 percent - Quick Facts", Nasdaq, April 28, 2020, © Nasdaq, Inc.
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