Coca-Cola cut its sales forecast for this year as it struggles with a consumer slowdown in China, sending the drinks group’s shares down more than 3 per cent.
The Atlanta-based group expects sales, adjusted for acquisitions, divestitures and currency fluctuations, to rise 3 per cent, compared with its earlier forecast of between 4 per cent and 5 per cent.
Coca-Cola said that the consumer slowdown in China had hit sales, and weaker demand was forcing it to drive down inventory.
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