Massive Drop in Coca-Cola Sales in Pakistan
Coca-Cola has reported a significant drop in sales in Turkey and Pakistan, largely due to boycotts targeting brands with perceived ties to Israel amid the ongoing Middle East conflict, as well as economic downturns.
Sales volume in Turkey fell by 12.2%, while in Pakistan, it dropped by 22.9% compared to the previous year. The Istanbul-based company’s net income also saw a 61% decrease, dropping to 5.17 billion liras ($151 million) for the quarter, missing analysts’ forecasts.
The company cited challenges in some markets but also noted growth in others, particularly in international markets, where volume rose by 1.3%. Despite these setbacks, Coca-Cola remains optimistic about its overall global performance and continues to focus on adapting to the varying market conditions.
