Coca-Cola Loses Ground to PepsiCo in Q3
Coca-Cola (NYSE: KO) dominates the market for on-the-go beverages, which makes it poorly suited to today's stay-at-home global consumer environment. The announcement showed encouraging progress at stemming sales declines and slashing costs. Sales declines moderated to 9% compared to the 28% slump Coke endured during the peak social distancing months of April and May. The company's 4% volume decline also marked a solid improvement from the second quarter's 16% dive .
