COVID-19 has toppled the decades-old business model of the more than 70 independent Coca-Cola bottlers in the U.S. As lockdowns pushed customers to grab cases of Coke, Fanta, and Sprite at grocery stores rather than at gas stations, restaurants, and stadiums, bottlers were forced to keep stores stocked with bigger, often less-profitable packages. Profitable sales to restaurants and convenience stores remain down, only a fraction of what they were before the pandemic hit the United States. A resulting body blow was the shortage of aluminum cans thanks to surging demand for canned drinks by people staying home. Workers at bottling companies have borne the brunt of these conditions. Coca-Cola Consolidated, the biggest U.S. Coke bottler, reported a 3.6 percent slide in quarterly net sales, but was able to increase adjusted operating income by 5.4 percent after furloughing about 700 people without pay.
[Image Credit: © Coca-Cola Hellenic Bottling Company]